(Alliance News) - SAES Getters Spa reported Thursday that it closed 2023 with a consolidated profit of EUR632.3 million from EUR12.3 million in 2022 thanks to the divestment of the Nitinol business.

The company said it had proposed a dividend of EUR12.51 per share from EUR0.55 in 2022.

Consolidated revenues as of Dec. 31 stood at EUR121.6 million from EUR126.6 million in 2022.

Consolidated EBIT was negative EUR22.2 million from an all-time negative EUR3.4 million, while consolidated EBITDA was negative EUR12 million from a positive EUR6.3 million in 2022.

Consolidated Net Financial Position as of Dec. 31 was positive EUR773.3 million, up from a negative EUR20.8 million as of Sept. 30.

In addition, the company reported that a rejuvenation and efficiency project has been launched in the parent company using the so-called isopension tool, for an expected savings of EUR4.5 million per year when fully implemented.

Finally, the company received yesterday evening from the shareholder SGG Holding Spa the list of names that will make up the list for the renewal of the board of directors, which does not include Giulio Canale, "a choice prompted by the intention to contain the company's operating costs, which have been greatly downsized following the sale of the Nitinol business, thanks to which a substantial financial availability has been generated that allows for the extraordinary costs associated with the non-renewal," as the company explained in a note.

Thus, the names given by the partner are Massimo della Porta, Alessandra della Porta, Luigi Lorenzo della Porta, Andrea Dogliotti, Francesca Corberi, Tommaso Nizzi, and as independents Maria Pia Maspes, Cecilia Braggiotti, and Lorenzo Riggi.

SAES Getters trades in the green by 0.7 percent at EUR34.75 per share.

By Claudia Cavaliere, Alliance News reporter

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