Viscofan S A : Group releases January-June 2023 results
July 27, 2023 at 12:02 pm EDT
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Main conclusions January-June 2023 results:
• Revenue is €628.6 million, 10.7% higher than in the previous year.
• EBITDA is €129.4 million, up 5.6% on the previous year.
• €62.9 million in Net profit, down 3.1% year-on-year, where operating profit growth is completely eroded by €8.1 million of negative exchange differences.
• €144.2 million of net bank debt as of June 2023, up from €101.3 million as of December 2022.
• Payment on 8 June 2023 of a total final dividend of €24.9 million, representing €0.54 per share, bringing the total shareholder remuneration to €1.95 per share, 6.0% more than the equivalent remuneration in the previous year.
• José Domingo de Ampuero y Osma, Chairman of the Viscofan Group: "The Group has once again shown significant year-on-year growth in the main operating figures, reflecting commercial discipline and production efficiency. It should be noted that the transformation projects of our Beyond 25 strategic plan have obtained, in some cases, results even higher than initially expected. We have built a stronger Group that has been able to offset the most adverse cost environment in recent decades and is able to accelerate margin improvement in the second half of the year.
Thus, given the current average cumulative exchange rates, we expect to achieve the low-end of the guidance, except for the net profit, where exchange differences are lowering our growth expectations for the year to the range of 4% to 6% from the 10% to 15% initially planned. These results imply to reach all-time highs in revenue, EBITDA, and Net profit".
You can find all results information on the Investors Relations site. LINK
Viscofan SA published this content on 27 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2023 16:01:33 UTC.
Viscofan SA is a Spain-based company engaged in the packaging industry, mainly for meat products. The Company focuses on the manufacture and distribution of artificial castings, as well as plastic films that are used for separation of sliced food. Its products range includes cellulose, collagen, fibrous and plastic castings. In addition, it designs and produces packing machinery, as well as provides related spare parts. The Company also sells electric power, which is produced by cogeneration systems. The Company operates manufacturing plants and sales offices in Spain, Serbia, Czech Republic, Germany, Brazil, Mexico, Uruguay, China and the United States, among others. It controls a number of subsidiaries, such as Nanopack, Technology and Packaging SL, Naturin Viscofan GmbH and Viscofan Centroamerica Comercial SA.
VISCOFAN, S.A. 
