(Alliance News) - Rai Way Spa's 2024-27 Business Plan was released Monday evening to coincide with its 2023 financial results, which showed sharply rising numbers. In fact, fiscal year 2023 ended with a net profit of EUR86.7 million, up nearly 18 percent from fiscal year 2022, when it was EUR73.7 million.

The board proposed the distribution of a dividend of EUR0.32 per share, up from EUR0.27 in the previous year.

As for the business plan, this forecasts core revenues at EUR316 million, with a CAGR in the period 2023-27 of 3.8 percent, due to the contribution of inflation and the aforementioned development initiatives.

The plan also forecasts adjusted Ebitda at EUR207 million - with CAGR 2023-27 of 3.5 percent - with a margin on revenues of more than 65 percent, about 68 percent excluding the dilutive effect of the start-up phase of the diversification initiatives.

Net income is estimated at EUR92 million - CAGR 2023-27 of 1.4% - with the increase in Ebitda partially offset by higher depreciation and amortization related to development investments and higher financial expenses.

On net debt, a value at EUR286 million is expected due to recurring cash generation, the development investment plan and the assumed dividend distribution to shareholders, with leverage expected to increase on an organic basis to about 1.4x in terms of Net Debt / adjusted Ebitda.

Rai Way closed Monday's session in the green by 1.7 percent at EUR4.88 per share.

By Maurizio Carta, Alliance News reporter

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