Deufol SE Announces Strong Performance in 2023 Annual Results

Deufol SE reported a successful financial year 2023, with a significant increase in sales, earnings, and expansion in global markets. The company observed a sales increase of 8.2%, reaching €294.0 million, achieving the upper end of their forecast. EBITDA rose by 35.6% to €46.1 million, surpassing the previous year's €34.0 million due to an effective go-to-market strategy and the expansion of their digital supply chain management software.

The operating result for the year exceeded expectations, with EBIT increasing to €16.6 million. A settlement agreement with former managers added €10.3 million to the EBITDA after expenses. Capital expenditures stood at €5.8 million, slightly lower than the previous year, with investments focusing on property and plant equipment. Operating cash flow slightly increased to €35.5 million, supported by the settlement agreement and a reduction in inventories.

Deufol SE proposed a dividend distribution of €0.10 per share, comprising a regular and a special dividend, reflecting a total profit distribution of €4.3 million. Looking ahead to 2024, despite persistent market uncertainties, Deufol plans to leverage strategic measures and expand geographically to sustain growth and improve market share.