(Finance) – Cementir closes 2023 with a Net income group total of 201.4 million euros, up 24.1% from 162.3 million a year earlier.
The board of directors, chaired by Francesco Caltagirone jr, also resolved to propose to the meeting, scheduled for 22 April 2024, the distribution of a dividend of 0.28 euros per share, up 27.3% compared to 0.22 euros in 2022.
“Despite an increasingly uncertain macroeconomic scenario due to growing geopolitical tensions and more restrictive monetary conditions – commented Francesco Caltagirone Jr, president and CEO – in 2023 the group demonstrated significant resilience, setting new records thanks also to an increasingly diversified geographical and product mix. The general weakness in volumes, with the exception of Turkey and China, was balanced by the improvement in operational efficiency”.
During 2023 i revenues of the group’s sales and performance amounted to 1.69 billion euros, down 1.7% compared to the 1.72 billion in 2022 following the reduction in volumes sold and the weakening of local currencies, with dynamics different in individual geographical areas in the face of a moderate increase in prices. It should be noted that at constant exchange rates in 2022 revenues would have been equal to 1.9015 billion, an increase of 10.5% compared to the previous year.
The gross operating margin reached the historical record of 411.1 million euros, up 22.6% compared to 2022.
For 2024 the group expects to achieve consolidated revenues of approximately 1.8 billion euros, a gross operating margin of approximately 385 million and a net cash position of approximately 300 million euros at the end of the period. The planned investments are approximately 135 million (104.2 million euros in 2023), of which approximately 48 million in sustainability projects. The group does not foresee the need for new external financing, given the cash generation and the net cash position expected by the end of the year.