Full Year 2024 Sabaf SpA Earnings Call Transcript
Key Points
- Sabaf (LTS:0NIG) reported a record full-year revenue of EUR277 million for 2024, marking a 15.8% increase from the previous year.
- The company's EBITDA increased by 22.2% to EUR40.4 million, with an EBITDA margin improvement from 13.8% to 14.6%.
- Sabaf (LTS:0NIG) generated a positive operating free cash flow of EUR12.3 million.
- The company expects sustained growth in 2025, driven by sales across all divisions and a new plant in Mexico.
- A dividend proposal of EUR0.58 per share is set to be presented to shareholders, up from EUR0.54 in the previous year.
- Q4 2024 saw a decline in EBITDA margin to 12.8% from 13.8% in Q4 2023, with a decrease in group net result from EUR5.8 million to EUR3.4 million.
- The geopolitical situation and potential tariffs pose risks, although mitigated by Sabaf's global production presence.
- Increased labor costs in Turkey negatively impacted margins, with a EUR2.8 million increase in personnel costs.
- The depreciation of the Turkish lira did not offset the increased labor costs as it had in previous years.
- Energy costs increased by EUR320,000 compared to 2023, adding pressure to the company's expenses.
Good afternoon. This is the CORSCO conference operator. Welcome and thank you for joining the Saba as of December 31, 2024 approved results conference call. (Operator Instructions)
At this time, I would like to turn the conference over to Mr. Pietro Iotti, CEO of Sabaf. Please go ahead, sir.
Thank you to everybody to attend this meeting. This morning, the board of directors of SAA approved the result of the 31 of December '24.
Those are the number approved.
Consolidated results for 2024 full year revenue EUR277 million compared with EUR239.1 million previous year with the increasing of the sales of 15.8%. That means for our company the highest turnover ever in all time I forever.
A BBA magazine delivered EUR40.4 million compared with EUR33 million in '23 with an increasing percentage of 22.2%. The percentage of EBITDA on revenue 14.6% compared with 13.8% in '23. EUR21.2 million, compared with EUR17.5 million '23 with an increase of 21.2%. Group net
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