(AOF) – Mersen achieved a record turnover of 1.21 billion euros in 2023, organic growth of 13.2% compared to 2022, of which around 5% is linked to price increases. The group’s current Ebitda reached 202.7 million euros, up 8.7% compared to 2022 (+14% at constant exchange rates). This improvement is largely due to positive volume and mix effects. Current operating profit reached 137.3 million euros, representing growth of 12.9% compared to 2022 (+19% at constant exchange rates).
The current operating margin was 11.3%, an increase of 40 basis points.
Net profit, group share, amounts to 81.6 million euros for the year 2023, representing growth of more than 20% compared to 2022.
The Board of Directors will propose to the general meeting of shareholders on May 16, 2024 the payment of a dividend of 1.25 euros per share in cash, stable compared to 2022. This would result in a total distribution of approximately 30 million euros, a growth of 17% compared to 2022, due to the greater number of shares linked to the capital increase. The dividend would represent 37% of the group’s net income, an increase compared to 2022 (33%).
In terms of prospects, for the year 2024, Mersen is targeting organic growth in turnover of around 5% and a current operating margin of around 11% of turnover.
It also anticipates industrial investments which should be between 200 and 240 million euros, depending on the pace of execution of the projects, including 110 to 150 million euros linked to investments in the growth plan in accordance with the roadmap. of the group.
AOF – LEARN MORE
=/ Key points /=
– World expert in electrical specialties and advanced materials for High-Tech industries, created in 1889;
– Turnover of €1.1 million achieved 56% in advanced materials, such as graphite, and 44% in electrical specialties for energy production and protection (32% in Europe, 36% in North America and 29% in Asia-Pacific);
– Balanced offer between process industries for 33%, electronics for 22%, energy for 21%, transport for 13% and chemistry;
– Business model based on high value-added expertise, innovative offers for sustainable development and operational efficiency;
– Open capital with a strong presence of BPI France (10.8% and 19.2% of voting rights) and Caisse des Dépôts (4.9%) Emmanuel Blot chairing the board of directors of 9 members and Luc Themelin being general manager;
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Healthy balance sheet with a net debt of €189 million giving a leverage effect of 0.98% at the end of June and an equity ratio of 23%, with self-financing flows covering growth.
=/ Issues /=
– Strategy 2027
– intensification of investments in 2023-2025 (€400 million) in the production of finishing materials and in teams dedicated to electric vehicles,
– targeted acquisitions,
– turnover of €1.7 billion, of which 45% in renewable energies, semiconductors and electric vehicles and operating margin of +12%;
– Innovation strategy with 18 R&D centers, financed at 2% of revenues:
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major investments in digitalization and information systems,
– network of 140 “open experts”,
– partnerships in mathematical models or with Soitec,
– participation in the European Advansic project to reduce the cost of silicon carbide;
– 2025 environmental strategy integrated into the activity with 56% of revenues intended for sustainable development markets and aimed at:
– 20% reduction, compared to 2018, in CO2 emissions,
– 10% reduction in water consumption,
– 75% recycling of waste;
– Benefits of the partnership in electric vehicles with the American Wolfspeed ($400 million in revenue over 5 years);
=/ Challenges /=
– Ability to increase prices at a rate greater than that of commodity and energy inflation, with price increases contributing 5% of half-year growth;
– Fallout from industrial investments in 2023 -150 to 200 M€ in Colombia, France and the United States;
– After an increase of 18% in revenue and 25% in net profit on 1
er
half-year, 2023 objectives set: growth of 10 to 12% in turnover and operating margin of 11 to 12%.
Learn more about the Capital Goods sector
Rail investment plan
The French railway industry is in second place in Europe and third place worldwide. This industry displays a trade surplus, which generates more than 100,000 jobs in France. The announcement of the future plan for French rail transport provides in particular for the regeneration and modernization of the network, the average age of which is 30 years in our territory. This age is much higher than that of countries like Germany (17 years) and Switzerland (15 years). An annual investment increasing from 2.8 billion euros to nearly 4 billion euros should make it possible to maintain the entire network in good condition.