PRIM consolidates the pace of its revenue growth with an almost 9% increase in the first nine months of the year

The Company achieved an 11.2% increase in EBITDA, amounting to an accumulated €17.7 million in the third quarter.

 

The PRIM Group has strengthened its growth during the first nine months of the year, with an 8.8% increase in its net turnover, which reached €154.8 million. This improvement fulfils one of the targets set out in the 2021/2025 Strategic Plan, and it was achieved thanks to both the business’ organic growth, which rose by 6%, and the solid performances of those companies acquired as part of the Plan’s framework, which contributed €20.9 million in revenue to the consolidated plan.

During the current financial year, the PRIM Group has seen a return to relative normality within the supply chain markets and also benefitted from a considerable reduction in freight rates. This, together with a selective increase in prices and the improvement in the sales mix towards more profitable products, has led to an increase of 1.3 percentage points in gross margin for sales during the first nine months of this year. This represents an increase of 11% to €76.76 million, compared to €67.9 million from the previous year, or in other words; 49.1% of sales compared to 47.8% for the same period of 2022.

As a result of the constant improvement in revenues and margins and a control of fixed costs, the Group has increased its EBITDA by 11.2%, to €17.7 million, as well as its operating profit, which grew by 6.2%, to €10.5 million.

In terms of bottom line results, PRIM posted earnings per share of €0.459, 12% lower than in the same period of 2022. This figure does not include the non-recurring profit obtained from the sale of the Spa division, which was at €0.084 per share.

The divestment made in the Spa division is part of the Strategic Plan’s criteria for the allocation of the Group’s resources into two other key areas: Medical Technologies and Mobility and Healthcare. In this regard, the sale of SPA has allowed the Company to maintain its financial strength and to benefit from a healthy position to take advantage of any business opportunities which may arise in the near future.

Along with growth, the PRIM Group has focused on efficiency, with an improvement made to processes and the full implementation of SAP, a tool that will contribute to improved future results. Similarly, the Company is committed to meeting its ESG objectives, which are set out in an extensive Master Programme for 2025.

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