Results aligned with expectations
Fluidra, the outstanding company in the hydraulic sector in Catalonia, has reported an increase of 8% in its earnings during the first half of the year, reaching a total of 112 million euros in net profit. This figure reveals the effectiveness of the measures implemented in its Simplification Program, which since its introduction has managed to save 47 million euros.
Growth expectations under a new approach
The head of Fluidra, Eloi Planes, has expressed his intention to continue with this trend, with hopes of exceeding 60 million euros in annual savings by the end of 2024. This program combines a global purchasing strategy with initiatives of product design, which plan to contribute significant value to EBITDA, with a total projection of 100 million euros of improvement by 2025.
Challenges in sales and market performance
During the first half of the year, Fluidra’s sales totaled 1,171 million euros, a slightly lower figure compared to the previous period, but consistent with market expectations. In addition, EBITDA grew by 3%, reaching 296 million euros, thanks to the increase in the gross margin and a decrease in the costs of raw materials.
Improvements in financial management
The Net Cash Profit was 157 million euros, with a remarkable performance in cash generation. Fluidra recorded a reduction in net debt by 150 million euros compared to the previous year, thus improving its net debt to EBITDA ratio up to 2.5 times.
Regional growth and adaptation to the market
North America stood out with growth of 4%, while Europe faced the challenge of an unfavorable macroeconomic environment. On a positive note, all regions showed improvements in the second quarter, posting an overall growth of 1% in sales.
An optimistic vision for the future
Looking to the future, Fluidra maintains its confidence in achieving its goals for the fiscal year. Estimates for sales range between 2,025 and 2,125 million euros, with a projected EBITDA of between 450 and 480 million euros.
Planes has expressed its satisfaction with the results achieved in a commercial environment that has returned to normal, highlighting the solidity of the aftermarket. In addition, he emphasized that Fluidra is positioned as a leader in a sector with the potential for structural growth over time.
The company will bet on innovation, customer-focused attention and the promotion of sustainable products to continue its growth trajectory and generate long-term value.
