Dr. Miele Cosmed Group S.A.: record profits lead to highest-ever dividend payment

Dr. Miele Cosmed Group S.A.: record profits lead to highest-ever dividend payment

20.05.2024

The company has allocated over PLN 7.8 million to be distributed among shareholders, marking the highest-ever payout amount. The reason for this is the exceptional financial results achieved by the Dr. Miele Cosmed Group Capital Group in 2023, with a net profit of PLN 22.2 million.

As per the suggestion put forth by the Management Board of Dr. Miele Cosmed Group S.A. on 15 May 2024, the Company will be allocating 35.3% of its consolidated net profit generated in 2023, which amounts to over PLN 7.8 million (equal to PLN 0.09 per share), to be distributed among shareholders in the form of a dividend. The decision made by the Management Board to redistribute profits is based on the Dividend Policy for 2024-2026 as well as the investment plans and requirements resulting from the Dr. Miele Cosmed Group Strategy.

"The Dr. Miele Cosmed Group Capital Group has achieved dynamic growth in its financial results, and has fulfilled the Management Board's announcement made several months ago, by allocating a part of its profits to the payment of dividends. A clear business strategy and a strong Team are guarantees of further growth in the company's value and shareholder benefits. The upward trend continues", commented Magdalena Miele, Board President of Dr. Miele Cosmed Group S.A.

As a reminder, the financial report published at the end of April stated that the Dr. Miele Cosmed Group Capital Group achieved a revenue of PLN 444 million in 2023 (marking a 12% increase year-on-year). Additionally, the group's EBIDTA value amounted to PLN 45 million (a staggering increase of PLN 32.2 million, or 255%, as compared to 2022).

The company is involved in the production and sale of cosmetic and household chemical products under its in-house brands as well as for retail chains (private label). The Business Strategy, published on 29 April this year, focuses on consistent development of the Capital Group's brands: Kret, Bobini, Sofin and Apart in Poland, Germany and export markets, adhering to global environmental, social, and corporate governance objectives and practices.