(Finance) – Propellera company listed on Euronext Star Milan and activates in the production of hoods and aspiring kitchen plans, recorded revenues equal to 452.1 million euros in 2024 (-4.5% vs fy 2023, -4.1% organic), in sequential improvement Q/Q, thanks to the growth in North America, guided, in particular, by the success of the new distribution strategy and the progress of the OEM segment In Emea. In the fourth quarter, revenues are € 110.5 million, in line with the same period of 2023 (-2.2%, -1.8% organic).
THE’Normalized ebitda It is equal to 31.4 million euros (48.1 million euros in FY 2023) with a margin on revenues of 7.0% (10.2% in FY 2023). In a market context that continues to be cauterized by an intense promotional activity, the margins are also impacted by the costs incurred in support of growth, in the product and in the project to transform the cooking.
The Net result equal to 9.4 million euros, compared to 11.3 million euros to 31 December 2023 thanks also to the contribution (for 6.4 million euros) of the sale of 4.78% of the share held by PB India ale a Whirlpool of India Limited and, for 2.7 million euros, to the evaluation of the remaining share of € 1,59% remained in possession of a propeller. The Net result of relevance of the group is equal to 7.9 million euros compared to 9.9 million euros at 31 December 2023. The result of the minorities is equal to approximately 1.5 million euros.
“In a market context still difficultwe confirmed our leadership in aspiring systems and electrical engines, while we continue in the company’s transformation process – said theTo Giulio Cocci – The medium -term priorities are those that will guide the choices in the short time. We expect a 2025 characterized by a still weak question, but we will continue to invest in distribution, both in Europe and in North America, and in the position of positioning in cooking; We know that it is the right direction and the interest manifested by our customers in the distribution of Lhov confirms it to us “.
There Net financial position normalized is equal to -46.8 million euros to 31 December 2024 (excluding the IFRS 16 effect of 10.2 million euros), down 13.2% compared to 2023. The lever settles at 1.5x (0.9x in Fy 2023) despite the pressure on Ebitda
Margin
Confirmed themedium-long term outlook in a flat market context: revenues (organic) of more than 500 million euros; Adjusted Ebit Margin greater than 6%; Lever ratio of less than 0.5.