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Exel Industries: upbeat after annual results

( - Exel Industries has gained 5% following the publication of net income up 48.
6% to 42.5 million euros for its 2022-23 financial year, with an annual recurring EBITDA margin improved by 2.5 points to 8.6%.

The spraying equipment specialist thus claims to be returning to profitability levels equivalent to those of 2021, and to exceed sales of one billion euros for the first time in its history, with growth of 12% to 1.09 billion.

Despite a still inflationary environment, Exel has given priority to debt reduction, generating over 43 million euros in cash flow. A dividend of 1.57 euros per share will be proposed at the Annual General Meeting on February 6, 2024.

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