Italian pump maker Interpump's shares plunge after drop in annual core profit (updated)

Interpump SpA

14/02/2025 14:51

(Adds 2024 turnover by division, executive chairman quote,
share price reaction)
       Feb 13 (Reuters) - Shares in Italian high-pressure pump
maker Interpump  ITPG.MI  were suspended three times on Friday
after falling sharply after the company reported a 14.9% fall in
annual core profit and said it faces an uncertain business
climate this year.
    The group said it expects 2025 to be characterised by the
"complex and difficult to read" environment of 2024, with annual
turnover in a range between +1% and -5% with the early months
being the "most challenging period of the year".
    Shares in Interpump were volatile in heavy trade in Milan,
prompting them to be suspended three times in the afternoon.
They were last down 12.65% at 1447 GMT when they were suspended
a third time.
    The drop in 2024 core profit to 456.6 million euros ($478.97
million), mainly resulting from a 13.9% decline in turnover in
Interpump's hydraulic division, was partially mitigated by a
10.8% rise in its water-jetting division. 
    “Conditions in 2024 were among the most difficult ever
experienced by the Group, comparable solely with the 2009
financial crisis,” Executive Chairman Fulvio Montipo said in a
statement.


($1 = 0.9533 euros)

 (Reporting by Philippe Leroy Beaulieu
Editing by David Goodman and Susan Fenton)
 ((Philippe.LeroyBeaulieu@thomsonreuters.com;))