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Fluidra reported impressive first-quarter results, with sales rising 61% to 508 million euros and EBITDA up 162% to 135 million euros, achieving an EBITDA margin of 26.5%. A net profit of 67 million euros marks a dramatic 42-fold increase year-over-year. The company anticipates 2021 sales growth of 25% to 30% and plans to increase dividends by 90% to 0.40 euros per share. Sales spikes were notably seen in North America (86%) and Southern Europe (63%), with the Residential Pool sector growing by 77.8%.
Fluidra, a leader in pool and wellness equipment, predicts a sales growth of over 6% annually, outpacing the market due to acquisitions and market share gains. They aim to improve EBITDA margins by over 50 bps annually and project cash EPS growth exceeding 15% per year. Fluidra has announced a dividend payout policy, distributing 50% of cash net profit, with a planned increase of 15% in the coming years. Following CMP's acquisition, sales growth expectations for 2021 have been raised to 12-15%, with a cash EPS growth forecast of 17-25%.
Fluidra (OTC: FLUIF) announces a significant 90% increase in its dividend payout for 2021, proposing 0.40 euros per share, up from 0.21 euros last year. If approved at the General Shareholders' Meeting on May 6, shareholders will receive 0.20 euros on July 6 and another 0.20 euros on November 3, resulting in a dividend yield of around 1.7%. This decision is supported by strong cash flow and a robust balance sheet, with a maximum payout totaling 78 million euros. The company also continues its growth through strategic acquisitions.
Fluidra has been selected to join the prestigious IBEX 35 index, effective March 29, 2021, following criteria based on market capitalization and liquidity. The company boasts a market cap exceeding 4.5 billion euros, surpassing eleven current IBEX 35 constituents. In 2020, Fluidra achieved record sales of 1,488 million euros and a net profit of 166 million euros. For 2021, anticipated sales growth is between 12% and 15%, indicating a strong performance ahead, particularly following the recent CMP acquisition.
Fluidra achieved its best financial results in 2020, reporting sales of 1,488 million euros, marking an 8.8% increase. EBITDA rose by 19.3% to 321 million euros, reflecting a 21.6% margin. The company enjoyed a Net Debt/EBITDA ratio of 1.8x thanks to strong cash generation. Fluidra anticipates 2021 growth, projecting sales increases of 6% to 9% and a potential Cash Net Profit rise of 12% to 20%.
Fluidra, a leader in the pool and wellness equipment sector, announced its continued inclusion in the FTSE4Good Index for another year as of 9 February 2021. This index highlights companies meeting high standards in environmental, social, and governance (ESG) practices. Fluidra has also been rated by the CDP for the first time, receiving a C grade for its climate change efforts. This recognition underscores Fluidra's commitment to sustainable practices and its alignment with investor values.
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