Italy's Interpump sees 2024 core profit margin at 23.5%
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May 15 (Reuters) - Italian high-pressure pump maker Interpump expects a core profit margin of 23.5% this year, it said on Wednesday, as it reported a 15% drop in first quarter core profit.
The group, which manufactures pumps for various industrial applications including crop spraying and car washes, reported earnings before interest, taxes, depreciation and amortisation (EBITDA) of 127.4 million euros ($137.89 million) for the first three months of the year.
Its first quarter EBITDA margin widened to 23.3% from 21.4% in the final three months of 2023.
The company's Milan-listed shares were 6.5% higher at 1231 GMT.
Sales fell 7.8% from the year earlier period to 545.9 million euros.
Interpump forecast full year 2024 revenue between 1% higher and 5% lower than in 2023. ($1 = 0.9240 euros) (Reporting by Alessandro Parodi in Gdansk; Editing by Kirsten Donovan)
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The group, which manufactures pumps for various industrial applications including crop spraying and car washes, reported earnings before interest, taxes, depreciation and amortisation (EBITDA) of 127.4 million euros ($137.89 million) for the first three months of the year.
Its first quarter EBITDA margin widened to 23.3% from 21.4% in the final three months of 2023.
The company's Milan-listed shares were 6.5% higher at 1231 GMT.
Sales fell 7.8% from the year earlier period to 545.9 million euros.
Interpump forecast full year 2024 revenue between 1% higher and 5% lower than in 2023. ($1 = 0.9240 euros) (Reporting by Alessandro Parodi in Gdansk; Editing by Kirsten Donovan)
If you have any kind of concerns relating to where and the best ways to make use of homepage, you can contact us at the site.
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