ADMIE Holding Group has today announced its financial results for the fiscal year 2023.

KEY FIGURES

According to the company's announcement, the Group's revenues increased by 33% to €392 million in 2023, compared to €295 million in the previous year, and for the company, by 31.8% to €385 million in 2023, compared to €292 million in 2022.

At the same time: Group operating expenses increased by 10.6% to €227.0 million approximately in 2023 compared to €205.0 million in prior year, while for the Company increased by 8.3% to €220.0 million approximately in 2023 compared to €203.0 million in 2022.

Consolidated EBITDA reached €277.5 million compared to €194.1 million the previous year for the Group as well as for the Company, increased by 42.9% for the Group and 43.1% for the Company, with the EBITDA margin reaching 70.8% in 2023 compared to 65.9% in 2022 for the Group and 72.0% in 2023 compared to 66.3% in 2022 for the Company.

Group Adjusted EBITDA stood at €278.1 million compared to €189.6 million in 2022, excluding the following non-recurring items: 

-For 2023 provision for the discount of reduced electricity given to employees and retirees of the Company amounting to €28 thousand, provisions for staff compensation amounting to €625 thousand, provision for risks and expenses amounting to €1.996 thousand as well as gains from the revaluation of fixed assets amounting to €2.018 thousand.

- For 2022 provision for the discount of reduced electricity given to employees and retirees of the Company amounting to €36 thousand, provisions for staff compensation amounting to €2.576 thousand, and release of provision for risks and expenses amounting to €7.090 thousand. Consolidated EBIT amounted to €164.7 million, compared to €89.2 million in 2022 increased by 84.7%, with depreciation up by 7.4% to €112.7 million which is attributable to capitalization of projects.

Consolidated adjusted EBIT amounted to €165,3 million versus € 84.7 million in 2022, excluding the above non-recurring items. Consolidated EBT amounted to €151.9 million compared to €76.8 million in 2022 with financial expenses increased to EUR 20.1 million versus EUR 15.8 million mainly because of the rise in Euribor floating interest rates. Net profit reached €116.6 million compared to €58.2 million an increase of 100.3% with net profit margin reaching 29.7% in 2023, versus 19.7% in 2022 for the Group and 30.6% in 2023, versus 20.2% in 2022 for the Company.

STATEMENT 

The Board of Directors of the Company, with its decision No. 95/04.08.2023, decided the distribution of interim dividend amounted to €13.5 million or 0.058 per share for FY 2023, before withholding tax and excluding own shares. The BoD proceeded to the payment of this amount on 11.10.2023.

Ioannis Karampelas, CEO of ADMIE Holding S.A, commented: “2023 was an important year, marked by the solid execution of our operational strategy. At the same time, IPTO Group made significant progress in the implementation of major plans and achieved a strong increase in revenues and profitability. As a result, we have been able to increase our share performance and proposed dividend per share, fulfilling one of our main targets, to fully reciprocate the trust placed in us by the investment community. I want to thank our dedicated team for implementing our business plan and for supporting our multidimensional vision. We expect to continue creating growth for our shareholders, while supporting IPTO in executing its ambitious System growth plan, maintaining our focus on building a sustainable and inclusive economy”.