PRIM IMPROVES REVENUES AND MARGINS AND ACHIEVES A 20% INCREASE IN NET PROFIT DURING THE FIRST HALF OF THE YEAR

The Company takes another step forward in meeting the objectives from its 21-25 Strategic Plan, to accelerate growth and consolidate its commercial leadership.

The PRIM Group achieved a 9.8% improvement in its net turnover for the first half of the year, reaching €108.7 million, compared to €98.9 million in the same period of 2022. These figures, together with an increase in the gross margin of its consolidated business, which went from 47.9% to 50.3%, are aligned with the objectives of the Strategic Plan for the 2021-2025 period, which forecasts an acceleration of growth and a consolidation of the Company’s commercial leadership and geographical expansion.

As a result of this profitable growth and efficient cost management policy, EBITDA for the first  half of this year reached €14.9 million, which is 27.6% more than during the first six months of 2022.

For its part, profit before tax increased by 22% to €10.6 million, and consolidated net profit amounted to €8 million, which is more than 20% above the same period in 2022. Finally, earnings after tax per share rose by 18.5% to reach €0.3976.

These increases include the non-recurring profit from the sale of the Spa and Wellness business for an amount of €1.7 million last March, as part of the Strategic Plan which recommends that the business concentrate on the mobility and health care sectors, on the one hand, and medical technologies, on the other.

In terms of processes and structural updates, the first half of the year has been key thanks the implementation of a new ERP, a tool that will provide the Company with a more robust operating system and will be the foundation for the improvement of operational efficiency, as well as the required scalability and flexibility needed to advance with its digitalization.

With regard to ESG commitments, the Group has implemented an ESG 2023-2025 Master Plan over the six months in question and has incorporated, for the first time in its history, ESG objectives in the variable salary structure of the Company’s Management Committee members and immediate updates.

In addition, PRIM has adhered to the United Nations Global Compact, the largest sustainable development initiative in the world, which includes a commitment to align strategic operations with the ten universally accepted principles in the areas of human rights, employment regulations, the environment and the fight against corruption. This means that the organisation is formally committed to contributing to the achievement of the Sustainable Development Goals by means of its ESG Master Plan.