Euroapi

Latest Results (14.08.2024):

Net Sales

Euroapi's net sales for the full-year 2023 reached €1,013.2 million, marking a 3.8% increase compared to 2022. This growth was driven by a 7.1% rise in sales to other clients, despite a 1.5% decrease in sales to Sanofi. The overall performance was bolstered by the addition of 46 new clients and positive price adjustments, although it faced challenges such as year-end destocking programs in certain regions.

Core EBITDA

Euroapi reported a core EBITDA of €93.1 million for the full-year 2023, with a core EBITDA margin of 9.2%. This represents a decline from the 12.3% margin recorded in 2022. The decrease was primarily due to unfavorable fixed cost absorption and input cost inflation, which impacted the company's profitability.

Net Income

For the full-year 2023, Euroapi posted a net income of €(189.7) million, a significant drop compared to the €(15.0) million reported in 2022. This decline was influenced by a €226.4 million impairment on tangible assets, reflecting the challenging business environment the company faced during the year.

Capital Expenditure

Euroapi's capital expenditure (Capex) for 2023 amounted to €129.0 million, with 52% of this investment directed towards growth projects. The company prioritized high-return CAPEX to support its strategic initiatives and improve its competitive positioning in the market.

Net Debt Position

As of the end of December 2023, Euroapi's net debt position stood at €(171.0) million, compared to €(25.6) million at the end of December 2022. The increase in net debt was attributed to the company's investments in growth projects and the impact of its strategic transformation initiatives.