FLUIDRA SA UNSP/ADR - FLDAY STOCK NEWS

Fluidra reported sales of 1,967 million euros for the first nine months of 2022, a 15% increase from 2021. EBITDA reached 456 million euros with a margin of 23%. North America led growth with a 30% rise, while the Rest of Europe saw a 13% decline due to inventory corrections and macroeconomic uncertainties. The company updated its 2022 guidance to forecast sales of 2.4 billion euros, expecting 10% growth. A simplification program aiming for 100 million euros in savings over three years has been initiated.

Fluidra anticipates third-quarter sales of approximately 520 million, a 7% year-on-year decline (forex adjusted), with EBITDA around 95 million. The company's total forecast for 2022 is 2.4 billion in sales and over 500 million in EBITDA, reflecting nearly a 10% growth year-on-year. A channel inventory correction and a challenging macroeconomic environment are impacting short-term performance, particularly in North America and Europe. However, Fluidra's simplification program aims to generate savings of about 100 million over three years.

Fluidra has appointed Clara Valera as the new Investor Relations and Business Development Director, effective early October. She brings over 20 years of experience, previously holding a significant role at Mondi plc, where she was the Group Head of Strategy and Investor Relations. In her new position, Valera will work alongside a dedicated team, including Cristina del Castillo and Pol Neiro, under the leadership of Xavier Tintoré, Chief Financial and Transformation Officer.

Fluidra reported record sales of 1,445 million euros in the first half of 2022, marking a 21.8% increase from the same period in 2021. EBITDA rose 9.3% to 361 million euros, despite inflationary pressures. The company announced a share repurchase program for 3.5 million shares and successfully acquired Swim & Fun in Denmark, a leading distributor in the Nordic region, for approximately 21 million euros. Fluidra revised its 2022 guidance, expecting sales between 2,500m and 2,600m euros.

Fluidra reported a strong Q1 with sales increasing to 667 million euros, an increase of 31.1% year-over-year. EBITDA rose by 25.8% to 170 million euros, while Cash Net Profit surged 26% to 103 million euros. The company's strong performance is attributed to high demand, effective pricing strategies, and M&A activities. Despite challenges like inflation, Fluidra maintained its guidance for 2022, predicting sales growth of 12% to 17% and an EBITDA margin above 25.5%. North America notably led growth with a remarkable 49.3% increase.

Fluidra, a leader in the pool and wellness equipment sector, has proposed a dividend payout of 0.85 euros per share, representing a significant 112% increase from last year. The total payout will reach 166 million euros, subject to shareholder approval on 5 May. This will be distributed in two payments: 0.43 euros on 5 July and 0.42 euros on 3 November. Fluidra reported a 47% sales growth in 2021, reaching 2,187 million euros, and aims for further growth of 12% to 17% in 2022.

Fluidra reports remarkable financial results for 2021, achieving 2,187 million euros in sales, a 47% increase from 2020, and a net profit of 252 million euros, up 162%. EBITDA margin expanded by 350bps to 25.1%, reflecting 549 million euros in EBITDA. The company's strong cash flow enabled €500 million in M&A and a 90% dividend increase to €0.40 per share. Growth was particularly strong in North America, with an 83% increase, and Fluidra expects sales growth of 12-17% for 2022.

Fluidra has appointed Barbara Borra as a new independent director, succeeding Martín Ariel Atlas. This change increases the number of independent directors from 4 to 5 out of 12. Borra's appointment follows Rhône Capital's decrease in shareholding from 15% to 11.5%, resulting in a reduced presence of Rhône Capital on the board. Borra brings over 35 years of management experience, including her role as President and CEO at Franke Group, and has held senior positions at Whirlpool, Rhodia, and General Electric.