In 2023 EYDAP increased turnover and reduced operating costs by 1.8%. All efficiency indicators showed significant improvement despite inflation pressures and the fixed tariff the Company has maintained since 2013. The Company prioritized the implementation of its investment plan by increasing the absorption of the investment program by 45% compared to 2022.

High energy costs contributed to lower water demand in the winter months, but water consumption benefited from the prolonged high temperatures of the summer period and showed a slight increase of 0.6%.

The Company's turnover amounted to € 351.6 million from € 343.5 million in 2022, representing an increase of 2.4% (+€ 8.1 million). Overall, from its main activities (water supply and sewerage), the Company recorded an increase in revenues of €8 million (+2.5%).

The Company's total operating costs decreased by -1.8% or -€6 million to €329.8 million from €335.8 million in 2022 mainly due to a 26% decrease in electricity costs (-€11.5 million) and a 3% decrease in staff salaries and expenses (-€3.4 million). Costs were negatively impacted by a €12.1 million increase in provisions (+112%).

Earnings before interest, taxes, depreciation and amortization (EBITDA)* increased significantly by 56% or €21.8 million to €60.8 million from €39 million in 2022, while EBITDA margin* increased to 17.3% from 11.4% in 2022.

The increase in EBITDA impacted the Company's earnings before interest and taxes (EBIT), which increased from just € 117 thousand in 2022 to € 21.5 million in 2023. The EBIT margin was 6.1%, up from 0.0% in 2022.

The Company's profit before taxes was €28 million from €10.6 million in 2022, an increase of +163% or €17.4 million.

Income tax was €7.7 million from €5.6 million in 2022, resulting in a 302% increase in the Company's profit after tax to €20.3 million from €5 million in 2022. The net profit margin was 5.8% from 1.5% in 2022.

The Board of Directors of the Company approved the proposal to the Annual General Meeting of Shareholders for the distribution of a dividend of 0.10 cents (€ 0.10) per share (total gross amount of € 10.650 thousand) for the financial year 2023.