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Net sales from deliveries and services fell 13.8 percent to 9.96 billion euros in 2023, the company said on Tuesday. Operating profit before depreciation and amortization (EBITDA) decreased by 11.7 percent to 247.3 million euros.
As a result, ALSO appears to have made a net profit of 124.1 million Euros. This means a decrease of 18.6 percent compared to the previous year. Return on capital employed reached 25.7 percent, after 22.4 percent last year.
Therefore, the company missed its own targets. So we were targeting 265 to 305 million EBITDA. Additionally, boss Gustavo Möller wrote: “Especially in the second half of last year, the reluctance to purchase and invest due to the unstable geopolitical situation among companies and consumers has become noticeable, the extent of which was not expected at the beginning of the year.” Hergt.
However, EBITDA of €247.3 million is an excellent result considering the decline in sales of over €1.4 billion. This shows the company’s resilience, Möller-Hergt wrote: “In 2019, in a year with comparable sales, the result was around 50 million euros lower.”
Overall, the group clearly missed analysts’ sales and profit forecasts; only the dividend exceeded expectations. However, ALSO wants to distribute a higher dividend of 4.80 francs per share. In the previous year, shareholders received 4.60 francs.
Meanwhile, expectations are good. Constant new developments in the IT industry force companies and consumers to invest in new devices and applications. He also noted that cloud-based digital platforms, the Internet of Things (IoT), virtualization, cybersecurity and artificial intelligence also offer major growth opportunities.
“For these reasons, we see that it can achieve an EBITDA of between 265 and 305 million euros and a revenue of over 25 percent for 2024. We are increasing our growth targets in the medium term, that is, in a period of 3 to 5 years, and aiming for an EBITDA of 350 to 450 million euros and a return on equity capital of over 30 percent.
The group has so far targeted an EBITDA of between 330 and 420 million and a ROCE of over 20 percent in the medium term. (SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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