EuroGroup, no revenue however the dividend instantly. Growth in 2024 | EUROtoday

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Net revenue and revenues down, however working revenue and adjusted Ebitda (+11%) up. Dividend (the primary, the corporate has been listed since February 2023) of 0.042 euros per share. And additional progress and diversification of the order e book to six.4 billion, because of the electrical car and automotive market generally. With income progress prospects of round 15% for 2024.

This marked the top of 2023 for Eurogroup Laminations (EgLa), a world chief within the design, manufacturing and distribution of stators and rotors for electrical motors and mills primarily based in Baranzate, simply exterior Milan. Company based in 1967 however international chief since 2016. An growth – right this moment EgLa has 13 manufacturing websites of which 7 in Italy – largely because of the transition in direction of electrical vehicles. In extra element, the 2023 accounts say: revenue of 38.6 million euros, down 11.8% in comparison with 43.8 million in 2022; revenues of 836 million, down 1.8% in comparison with 851 million in 2022; Adjusted Ebitda of 116 million, up 11.6% in comparison with 104 million in 2022; Ebit equal to 80 million (+4.1%). The revenue pertaining to the Group is 34.1 million euros, down in comparison with 39.3 million in 2022.

The firm's Board of Directors authorised the annual monetary report and resolved to suggest the distribution of a dividend of 0.042 euros per share, equal to roughly 6.8 million euros. Over the three-year interval, the corporate plans to distribute a dividend of as much as 20% of income “compatibly with the growth needs of the group”.

«Thanks to the efficiency of 2023 – explains the CEO of EuroGroup Laminations, Marco Arduini– we announce the primary distribution of a dividend by an organization listed on the inventory trade. In addition, the Board of Directors has authorised a dividend coverage that’s versatile, sustainable, and in keeping with our progress and funding plan. We verify our dedication to creating worth for shareholders and confidence within the firm's future prospects.”

How can the results be explained? The segment EV & Automotive of EgLa recorded revenues of 477.3 million, up 50.1% compared to 2022 (317.9 million), «mainly thanks to the increase in production volumes on new projects linked to the growing demand for EV products, consistently with the execution and expansion of the order book, thus confirming the Group's leadership in the reference markets”, reads the corporate word.