(Finance) – Unieuroa company listed on Euronext STAR Milan and active in the distribution of consumer electronics and household appliances in Italy, closed thefinancial year 2023/2024 (as of February 29, 2024) with revenues of 2.635 billion euros (-6.3% compared to the 2022/23 financial year), in a consumer electronics market which recorded a decline of 6.9%. L’Adjusted EBIT is 34.8 million euros (37 million in the 2022/23 financial year). The Adjusted Net Result is 18.7 million euros (20.9 million in the 2022/23 financial year).
“In the financial year just ended, in a challenging geopolitical and macroeconomic framework and in the face of a further deterioration of the consumer electronics market, we worked with a dual objective: to preserve the Group’s profitability in the short term and accelerate our growth path medium-long term – commented theAD Giancarlo Nicosanti Monterastelli – The results achieved, in compliance with the guidance communicated to the market, demonstrated the validity of the actions implemented. In full coherence with the Strategic Plan, we have acquired Covercare, a transformative and crucial operation for us, which will enrich the service offering and increase the Group’s profitability.”
As of 29 February 2024, Unieuro recorded a position of Net cash equal to 44.5 million euros, net of the acquisition of Covercare for a net impact of 69.4 million and the dividend paid (9.8 million), compared to 124.4 million at 28 February 2023.
The Board of Directors has decided to propose a dividend of 0.46 euros per share, corresponding to a coupon yield of 5.0%.
In the’financial year 2024/25in relation to prediction of a slightly negative market trend and the positive contribution deriving from the full consolidation of Covercare, Unieuro expects revenues to be in line with those of the previous year. Adjusted EBIT is expected in a range of 35-40 million euros. Net cash at 28 February 2025 is expected to be substantially aligned with that of the previous year.