Italy's Interpump sees 2024 core profit margin at 23.5%

Interpump SpA

15/05/2024 13:54

May 15 (Reuters) - Italian high-pressure pump maker
Interpump  ITPG.MI  expects a core profit margin of 23.5% this
year, it said on Wednesday, as it reported a 15% drop in first
quarter core profit. 
    The group, which manufactures pumps for various industrial
applications including crop spraying and car washes, reported
earnings before interest, taxes, depreciation and amortisation
(EBITDA) of 127.4 million euros ($137.89 million) for the first
three months of the year.
    Its first quarter EBITDA margin widened to 23.3% from 21.4%
in the final three months of 2023. 
    The company's Milan-listed shares were 6.5% higher at 1231 
GMT.
    Sales fell 7.8% from the year earlier period to 545.9
million euros.
    Interpump forecast full year 2024 revenue between 1% higher
and 5% lower than in 2023.
  

($1 = 0.9240 euros)

 (Reporting by Alessandro Parodi in Gdansk; Editing by Kirsten
Donovan)
 ((alessandro.parodi@thomsonreuters.com))