Ercros starts 2023 with good results
In the first quarter of 2023, Ercros maintained its contribution at around 80 million, obtained an adjusted ebitda of 30 million and achieved a profit of 13 million.
These results were achieved despite a European demand that continues to show signs of weakness, with highly volatile markets subject to increasing competition.
Ercros maintains a solid financial position, with 162 million euros of liquidity.
If the next general shareholders' meeting so decides, Ercros will pay a dividend of 15 cents of euro per share, which will mean a payout for the company of 13.72 million euros, and will redeem repurchased shares in the amount of 18.76 million euros. A total shareholder remuneration of 32.48 million euros, 50% of the 2022 profit of Ercros S. A., which was 64.97 million euros.
The general consensus of the specialized publications is that the performance of the European chemical industry in 2023 will be weaker than that observed in 2022. This situation will gradually correct itself in 2024. We will have to await the progress of the current year to be able to give more precise forecasts.
In any case, Ercros will continue to implement the 3D Plan, maintain its presence in all the markets in which it operates, and take advantage of the opportunities that arise to defend its margins.
Icome statements for the 2023 and 2022 first quarters