(Alliance News) - Interpump Group Spa reported Wednesday that it closed 2023 with revenues and profits up year-on-year.

Revenue from sales increased to EUR2.24 billion or 7.8 percent from EUR2.08 billion in 2022, with Oil up 6.0 percent and Water up 13 percent.

Ebitda rose 9.0% to EUR536.7 mn from EUR492.3 mn, with margin of 24.0% from 23.7% a year earlier, while operating income rose 12% to EUR428.8 mn from EUR384.0 mn a year earlier.

Net income rose to EUR277.5 million from EUR269.7 million while basic earnings per share rose to EUR2.565 from EUR2.524 a year earlier. ROCE was 18.1 percent from 17.7 percent and ROI was 15.4 percent from 17.2 percent.

As of December 31, 2023, the Net Financial Position was EUR486.5 million compared to EUR541.8 million as of December 31, 2022. The activities to which the largest resources were devoted were development activities with a total of EUR222.5 million devoted EUR164.9 million to investments and EUR57.6 million to the purchase of equity investments. During the year, dividends of EUR34.7 million were paid and EUR2.2 million received from the sale of treasury shares to stock option holders.

For the current year, the group is confident of consolidating the good results achieved in the past year, despite an international environment that remains very complex. Based on available indicators, Interpump Group expects sales for the full year, on an organic basis, to be essentially stable. In terms of profitability, the group aims to protect the "excellent" result achieved in 2023.

Interpump Group's stock is up 2.4 percent at EUR44.23 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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