(Alliance News) - The board of Cementir Holding NV on Monday reviewed the draft financial statements for the year ending Dec. 31, 2023, reporting a group net profit of EUR223.3 million compared to EUR161.2 million in 2022.

The board proposed increasing the dividend by 27.3 percent to EUR0.28 per share from EUR0.22 a year earlier.

EBITDA reached an all-time high of EUR421.9 million, , up 25 percent from EUR336.3 million in 2022, as a result of improved results in all geographies except the U.S.

"It should be noted that EBITDA in 2023 includes net nonrecurring income of approximately EUR11.6 million mainly from capital gains on sales of land and machinery. Excluding nonrecurring income, EBITDA of EUR410.3 million was 22.0 percent higher than in 2022," the company note specifies.

Operating income was EUR299.2 million, up 39 percent from EUR214.7 million in the previous year.

"At constant exchange rates with the previous year, operating income would have been EUR346.0 million," the company notes in the press release.

Net cash as of Dec. 31, 2023 was EUR217.6 million, a change of EUR122.1 million from a net cash position of EUR95.5 million as of Dec. 31, 2022, and includes the dividend distribution of EUR34.2 million that took place in May.

For the year 2024, the group expects to achieve consolidated revenues of about EUR1.8 billion, EBITDA of about EUR385 million and a net cash position of about EUR300 million at the end of the period.

Cementir Holding closed Tuesday's session in the green by 0.4 percent at EUR9.17 per share.

By Maurizio Carta, Alliance News reporter

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