Cembre (CMB) Q4 2023 earnings summary

Executive summary

• FY2023 sales rose 11.9% YoY to €222.6m; EBITDA reached €66.6m and net profit €40.8m, with margins improving across key profit measures.

• Revenue grew at a 6.7% CAGR over 2004–2023 and 11.1% over 2019–2023.

Financial highlights

• Sales €222.6m vs €198.8m in 2022, up 11.9%; EBITDA €66.6m vs €54.6m, up 21.9%.

• EBIT €54.0m vs €42.6m, up 26.8%; EBT €53.8m vs €42.6m, up 26.3%.

• Net profit €40.8m vs €31.9m, up 27.9%.

Outlook and guidance

• Priorities include new products and continuous range renewal through R&D, stronger overseas distributor channels, and greater penetration in the US and Germany.

• Focus on high-growth-potential products, operating efficiency and scale economies, process innovation, and investment in high-tech automated machinery.

• A 15,000 m² area was secured in January 2021 for future manufacturing-plant expansion.