Proposes to distribute a dividend of 0.55 euros per share
Fluidra closed the first quarter of the year with a net profit of 37 million euros, 10.2% less than a year ago, when it earned 41 million, as explained this Wednesday in a statement sent to the National Securities Market Commission. (CNMV).
Revenues until March were 527 million, 4.8% year-on-year less, while the gross operating result (Ebitda) reached 118 million, 1.9% lower.
The company has explained that the results are “in line with expectations in a quarter with fewer working days” due to Easter and has reiterated its confidence in meeting the year’s objectives.
The company has indicated that the Ebitda margin increased to 22.4%, reflecting “the effect of lower sales”, as well as the expansion of the gross margin thanks to the geographical and product mix and cost saving initiatives. .
In this sense, the simplification program “has already generated six million” in the first quarter and the company expects it to contribute another 30 million throughout the year.
Fluidra has recalled that between 2023 – the year in which it generated 30 million – and 2025, the program must create 100 million Ebitda due to the expansion of margins and the reduction of fixed costs.
The net cash profit, for its part, was 59 million, 1.9% lower than a year ago, and the company has assured that it “continues to focus on cash generation.”
FORECASTS FOR 2024
Fluidra has indicated that it maintains the ‘guidance’ for this year, in which it foresees sales of between 2,000 and 2,150 million, an Ebitda of between 440 and 490 million and a net cash profit of between 1.07 and 1.25 euros per share.
The company’s executive president, Eloi Planes, has expressed his satisfaction with the results presented: “With this performance and the positive evolution in April, we are well placed to meet our ‘guidance’.”
He added that the company is “creating a structurally stronger group” and has valued the product offering and broad geographical presence, as well as Fluidra’s position in the connected and sustainable pools sector.
50% ‘PAY OUT’
Fluidra has proposed to the general meeting of shareholders the distribution of a dividend of 0.55 euros per share charged to the 2023 results, which implies a 50% payout of last year’s net cash profit.
If approved at the meeting this Wednesday, the total disbursement will be a maximum of 106 million and the company will make a payment of 0.3 euros per share on July 3 and 0.25 euros per share on December 3 .
The board of directors of Fluidra has also proposed Olatz Urroz García as an independent director and the re-election of Esther Berrozpe and Brian McDonald as independent directors of the company.
