FX.co ★ Indus Holding Turns To Profit In FY23, Ad. EBITA Down On Stable Sales; Sees Sales Growth In FY24

Indus Holding AG, a German Engineering and Infrastructure corporation, recently announced a drastic improvement in their fiscal earnings for the year 2023. Their reported earnings after taxes amounted to 56.1 million euros, a notable increase from the previous year's loss of 41.4 million euros.

Continuing operations also registered a marked increase, with after-tax earnings growing to 139.7 million euros, a substantial leap from the previous year’s 115.9 million euros. This resulted in an uptick in earnings per share from continuing operations, which rose slightly to 3.10 euros from 3.04 euros the previous year.

In a challenging market, Indus Holding recorded an increase in operating income or EBIT, achieving 149.6 million euros as opposed to the previous year’s 133.7 million euros. This translated to an increase in the EBIT margin which climbed to 8.3% from 7.4%. However, adjusted EBITA dipped slightly to 188.1 million euros from 194.3 million euros reported in the previous year.

Meanwhile, the company's annual sales remained steady at 1.8 billion euros. In addition, the Board of Management and the Supervisory Board plan to recommend a dividend of 1.20 euros per share at the Annual Shareholders' Meeting scheduled for May 22, another advance from the previous year's 0.80 euro per share.

Looking towards the fiscal year 2024, despite the uncertainty surrounding the general environment, Indus Holding anticipates an increase in sales. The company projects the full year sales to fall within the range of 1.85 billion euros and 1.95 billion euros, and EBIT is projected to be between 145 million euros and 165 million euros.