Fluidra increases dividend by around 50% for second year in a row
May 4, 2017-
The General Meeting of Shareholders approved the Annual Accounts and Directors’ Report, endorsing the company’s optimal path to reaching the targets set in the 2018 Strategic Plan one year in advance.
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The shareholders support the proposed distribution of €15M in a dividend, a 50% rise over the dividend paid the previous year, which in turn was 50% up on 2014.
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Fluidra recorded 85.2% growth in 2016 net profit with record sales of €713.3M and EBITDA of €86M.
Fluidra, a multinational listed on the Spanish stock exchange and dedicated to the development of applications for sustainable water use for Pools & Wellness, has approved the Annual Accounts and Directors’ Report at the General Meeting of Shareholders. The shareholders supported the results obtained in 2016 by the company and its consolidated group of companies for the financial year ended at 31 December 2016, both audited by Ernst & Young S.L., as well as all the items on the agenda.
The GMS welcomed the financial and operating results obtained last year (ending at 31 December 2016). Fluidra experienced double-digit sales growth (10.2%) to reach €713.3M; whilst EBITDA came in at 19.1% to post €86M. Net profit came in at €24.1M (+85.2%), driven by the Spanish market and the rest of southern Europe, where sales rose 8.6% and 15.1% respectively, as well as the Asian and Australian markets.
At today’s meeting in Sabadell, shareholders supported the proposed distribution of €15M in a dividend, demonstrating Fluidra’s commitment to upholding a shareholder-friendly dividend policy one year more and fixing it at 50% above last year’s payment (€10M), which in turn was 50% up on 2014.
The Fluidra board approved the re-election of Eloi Planes Corts, Bernardo Corbera Serra, Óscar Serra Duffo, Juan Ignacio Acha-Orbea Echeverría, and Richard Cathcart as members, among other points.
Fluidra’s executive president Eloi Planes detailed the operations implemented throughout 2016, emphasizing the purchase of 70% of the share capital of the Dutch pool and aquatic installations leader, SIBO, with a strong distribution presence in Benelux and Germany; the investments made in production and logistics in Australia and South Africa to respond to growing demand; and the creation of the Fundació Fluidra.
Fluidra presented its 2018 Strategic Plan at the end of 2015 whereby the group expected to reach €750M in sales and €100M in EBITDA by 2018. “After ascertaining the positive evolution of business development in the first quarter of the year, the target we had previously set for 2018 will be brought forward by a year and we are now looking at setting a new bar for 2021,” the executive president said.