Spain's Fluidra net profit falls 37%, sees sales falling in 2023

BARCELONA (Reuters) - Spain's Fluidra said on Monday its 2022 net profit fell 37% to 160 million euros ($168.51 million) as higher interest rates raised its refinancing costs and sees sales falling and profitability falling in 2023.

Sales at the world's largest maker of swimming pool equipment grew 9.2% to 2.4 billion euros in 2022 but were 13% lower in the last quarter compared with the same period in 2021. Its earnings before interest, taxes, depreciation, and amortisation (EBITDA) dropped 6.8% to 512 million euros due to "inflationary pressures", it said.

Fluidra expects its 2023 sales to fall to between 2 billion euros and 2.2 billion euros and EBITDA to fall to between 410 million euros and 480 million euros.

($1 = 0.9495 euros)

(Reporting by Joan Faus, editing by Inti Landauro)