Full Year 2024 Intercos SpA Earnings Call Transcript
Key Points
- Intercos SpA (LTS:0AAR) achieved a significant milestone by surpassing EUR1 billion in net sales for the first time, with an 8% growth over the previous year.
- The company experienced exceptional growth in Asia, with sales increasing by 24%, driven by strong performances in China and Korea.
- Intercos SpA (LTS:0AAR) reported a reduction in net debt to below EUR100 million, further decreasing leverage to 0.68 of adjusted EBITDA.
- The company plans to distribute EUR19 million in dividends, representing about 39% of its consolidated net profit.
- Intercos SpA (LTS:0AAR) demonstrated resilience by recovering from a challenging start due to a cyberattack, achieving double-digit growth in both top and bottom lines in subsequent quarters.
- The skincare segment faced challenges, with a negative performance in the fourth quarter due to high comparisons from the previous year.
- The American market proved difficult, with only a slight positive result in the fourth quarter and an overall 6% growth for the year, impacted by the cyberattack.
- Retailers continued to struggle, with sales down double digits, driven by financial difficulties of a significant client.
- The global market outlook for fiscal 2025 appears uncertain, with China and the US showing downward trends and Europe moving to low single-digit growth rates.
- Intercos SpA (LTS:0AAR) faces potential challenges from geopolitical uncertainties and trade wars, which could impact market stability and growth.
Good afternoon.
This is the COO conference operator. Welcome and thank you for joining the Intercos Group full-year 2024 Financial Results conference call. As a reminder, all participants are in listen-only mode.
After the presentation, there will be an opportunity to ask questions. Should anyone need assistance during the conference, call them a signal and operator by pressing and 0 on the telephone. At this time, I would like to turn the conference over to Mr. Renato Semerari, Chief Executive Officer of Intercos Group. Please go ahead, sir.
Thank you very much. Good evening, everyone. I'm glad to start.
Saying that fiscal 24, which had such a rough start due to the cyberattack of February 24, has ended in a strong way with quarter 4 confirming our double digit pa for the third quarter in a row. This allowed us to cross the bar of EUR1 billion for the first time.
But let me start by summarizing our key results. So in terms of net sales, we closed
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