(Finance) – Ircea group listed on Euronext STAR Milan and operator in the sector of conductors for winding electrical machines and in the sector of electrical cables, closed the 2023 with a consolidated turnover of 402.78 million euros, down 11.4% compared to 2022, with the reduction mainly due to lower volumes sold and, in part, to the drop in the price of copper (the average LME price for 2023 is was 6.0% lower than that of 2022).
L’EBITDA was equal to 21.37 million euros, compared to 19.37 million euros the previous year. L’Net income was 8.23 million euros, compared to 9.22 million euros in 2022.
There net financial position at 30 December 2023 it amounted to 25.65 million euros, a sharp decrease compared to 60.05 million euros at 31 December 2022, thanks to the significant reduction in working capital and the cash generated by operational management.
Irce states that nei first months of this yearthe request in the winding wire sector in Europe remains weak and a recovery is expected already at the end of the first half of the year. In the South American market, the situation is better, and sales are in line with those of last year. In the cable sector, the current order book, made up of long-term public orders, should allow sales to be maintained at good levels and improving compared to last year.
The Board of Directors resolved to propose to the assembly the distribution of a dividend of 0.06 euros per share, ex-dividend date 20 May 2024 with record date 21 May 2024 and payment date 22 May 2024.