Brief: Vitesco Technologies FY Sales At EUR 9.23 Bln

Vitesco Technologies AG

14/03/2024 06:03

March 14 (Reuters) - VITESCO TECHNOLOGIES GROUP AG
 VTSCn.DE :
    * PROFITABILITY AND CASH FLOW EXCEEDED EXPECTATIONS
    * FY SALES INCREASE TO EUR 9.23 BILLION IN FISCAL YEAR 2023
(2022:
EUR 9.07 BILLION)
    * FY ADJUSTED EBIT MARGIN CAME IN HIGHER THAN COMPANY'S OWN
GUIDANCE AT 3.7 PERCENT (2022: 2.5 PERCENT)
    * FY FREE CASH FLOW ABOVE COMPANY'S EXPECTATIONS AT EUR 84.9
MILLION (2022: EUR 123.2 MILLION)
    * FY ORDER INTAKE OF MORE THAN EUR 12 BILLION, OF WHICH
AROUND 70
PERCENT IN ELECTRIFICATION BUSINESS
    * ORDER BACKLOG AS OF DECEMBER 31, 2023 STOOD AT AROUND EUR
58
BILLION, WITH MORE THAN HALF ELECTRIFICATION-RELATED
    * FIRST DIVIDEND DISTRIBUTION PLANNED
    * GUIDANCE FOR 2024: SALES FORECAST BETWEEN EUR 8.3 BILLION
AND
EUR 8.8 BILLION, FURTHER IMPROVEMENT OF ADJUSTED EBIT MARGIN
BETWEEN 4.5 PERCENT AND 5.0 PERCENT, NEGATIVE FREE CASH FLOW OF
AROUND EUR 350 MILLION EXPECTED
    * AT ANNUAL GENERAL MEETING ON APRIL 24, 2024, EXECUTIVE
BOARD AND
SUPERVISORY BOARD WILL PROPOSE A DIVIDEND DISTRIBUTION OF EUR
0.25 PER SHARE.

Source text for Eikon:  ID:nEQ8vGVyva 
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