(Finance) – El.En.a company active in the laser market and listed on Euronext STAR Milan, has closed i first nine months of 2024 with a consolidated turnover equal to 466.2 million euros, with a decrease of approximately 5.4% compared to the 493 million euros in the same period of 2023.
The gross operating margin (EBITDA) is positive for 62 million euros, in line with the 61.9 million euros of 30 September 2023; theincidence on turnover increases from 12.6% in 2023 to 13.3% in 2024. The result before taxes is positive for approximately 53.8 million euros, compared to 50.9 million euros at 30 September 2023, with an impact on turnover equal to 11.5% compared to 10.3% in the same period of 2023 and a change of +5.8%.
“In a macroeconomic context still characterized by uncertainty, we are certainly very satisfied with the quarterly results as a whole and even more so with the highly positive performance of some business areas, which made it possible to overcome the weaker performance of other areas in the consolidated results activity – commented the president Gabriele Clementi – With reference to the guidance indicated by the group for the 2024 financial year, the results of the quarter so far align with the growth forecasts of the 2024 operating result which, given the consolidation scope, will exceed that of 2023″
There net financial position of the Group as of 30 September 2024 is positive for approximately 73.8 million euros. In the third quarter the NFP increased by approximately 5.2 million euros compared to the 68.6 million euros at 30 June 2024 and in the nine months by approximately 19 million euros from 31 December 2023. The net income flow from operating activities together with depreciation and provisions exceeds 44 million euros against investments in the increase of working capital, for approximately 19 million, in the payment of dividends for approximately 17 million and in fixed investments for approximately 11.4 million.
The 3Q 2024 results reflect the guidance indicated by the management, with a decisive recovery in profitability thanks to which the EBIT for the first nine months of 2024 is very close to that of the corresponding period of 2023. With the same consolidation perimeter, therefore including the results of the cutting sector, the existing guidance is confirmed: 2024 operating result growing over 2023, while the decline in the cutting sector will not allow the consolidated turnover to align with the record result of 2023 in 2024.
Pending the sale of the majority of the companies in the cutting sector, the representation of the consolidated results will involve the reclassification of the costs and revenues of the cutting sector for the entire financial year, excluding them from the operating result. In relation to consolidation perimeter so radically altered, instead of updating the guidance for 2024 in accordance with the new representation of the results, El.En. plans to provide a proforma representation to allow the assessment of whether the indications of the confirmed guidance have been achieved.