(Finance) – The Board of Directors of Mittelwhich met today under the chairmanship of Marco Colacicco, “having taken note of the changed financial situation of the Group resulting from the important investments already made in the financial year 2024 and being evaluated for 2025” resolved not to proceed, for the 2025, to the policy of distribution of capital reserves as dividends.
The company made this known in a note referring to the press release of 29 December 2023 in which it was informed that “For 2025, the Board of Directors intends to propose to the Shareholders – subject to changes in the economic, equity and financial situation of the Group which are currently unforeseen – the same dividend distribution transaction, for the same amount and with similar payment times (i.e. January/February 2025).”
The company recalls that, in the 2024 financial year, the Mittel Group completed investments for a total of approximately Euro 100 million (of which Euro 15 million in bank financing), fully paid to acquire 100% of the share capital of Ceramica Catalanoas well as three companies belonging to the Windows and Doors sector.
At present, the Group, “net of existing bank loans, holds liquidity of approximately Euro 15 million deemed necessary for current operational needs as well as to seize new investment opportunities”.