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Vidrala reports financial statements for the year 2023

Vidrala reports financial statements for the year ended December 31, 2023.

Highlights

  • Sales in the year 2023 amounted to EUR 1,558.8 million, showing a growth of +15.3 percent on constant currency and comparable scope.
  • Operating profit, EBITDA, amounted to EUR 393.7 million representing an operating margin of 25.3 percent.
  • Earnings per share increased +53.5 percent over the same period last year, to EUR 7.23 per share.
  • Net debt as of December 31, 2023 stood at 472.2 million, equivalent to 1.1x times last twelve months pro-forma EBITDA.

Sales
Net sales registered by Vidrala during the full year 2023 amounted to EUR 1,558.8 million, representing an increase of +15.8 percent over the previous year. On a constant currency basis, sales grew +15.3 percent, before considering the contribution from the scope change due to the consolidation of Vidroporto’s results since December 1, 2023.

Operating results
Operating profit –EBITDA – obtained over 2023 reached EUR 393.7 million. This represents an increase of +45.6 percent over the figure reported last year, reflecting a growth – on constant currency and comparable scope- of +43.5 percent with Vidroporto contributing an additional +2.9 percent.

EBITDA margins reached 25.3 percent over sales. This represents an expansion of approximately 520 basis points over the previous year.

Results and financial position
Net profit for the full year 2023 amounted to EUR 233.4 million. As a result, earnings per share during the period reached EUR 7.23 per share. This represents an increase of +53.5 percent over the previous period.

Net debt at December 31, 2023 stood at EUR 472.2 million. This is equivalent to a leverage ratio of 1.1 times last twelve months pro-forma EBITDA. This figures include disbursements for M&A transactions, The Park and Vidroporto, for a total amount of EUR 420 million, including the acquired debt.

The full report is available here.

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