2.12.2020 08:58, BAASTOCK
Liquor Stock Spirits Group today presented stronger results than analysts expected for fiscal year 2020, which ended on September 30, 2020. At the same time, it announced the payment of an extraordinary dividend.
| Results of Stock Spirits Group (BAASTOCK) for FY 2020 | ||||
|---|---|---|---|---|
| FY 2020 | Consensus 2020 | FY 2019 | ||
| Sales (mil. EUR) | 341,0 | 332 | 312,4 | |
| Adjusted earnings EBITDA (mil. EUR) | 71,0 | 67,4 | 67,0 | |
| The net profit (mil. EUR) | 19,6 | — | 28,4 | |
| Adjusted earnings per share (EPS, eurocent / shares) | 21,42 | — | 19,75 | |
Liquor’s revenues in 2020 increased by 9.1% year-on-year to EUR 341 million, after adjusting for the effect of exchange rates and acquisitions from 2019 by 6.9%. Adjusted gross operating profit increased by 6.1% year-on-year, after adjustment by the above-mentioned by 4.6%.
Net profit was 31% lower year-on-year, mainly due to non-cash depreciation of assets in Italy and investments in Ireland. After adjusting for these one-off items, it increased by 8.5%.
The company published in mid-October Preliminary results – verbal comment and the amount of net debt at the end of September, which fell to EUR 22.7 million, net debt to EBITDA is 0.3 times.
CEO comment
“We are pleased to have achieved resilient performance in this very challenging year. In the first half of the year, we successfully went through tax increases in our largest markets in Poland and the Czech Republic. In the second half, we focused on protecting and supporting our employees, customers, suppliers and the community around us in the midst of the COVID-19 pandemic, ”commented Mirek Stachowicz, the Group’s CEO.
Stock Spirits increases the regular dividend and also pays an extraordinary dividend
Together with the results, the company published a proposal for a final dividend for 2020 of 6.78 eurocents (+ 7.4% year-on-year), including the preliminary dividend, so the total dividend from the profit for 2020 will reach 9.55 eurocents (+ 6.8% year-on-year) .
At the same time, the company announced that the board of directors is also proposing the payment of an extraordinary dividend of 11 eurocents per share.
Dividends have yet to be approved by the General Meeting, which will be held on February 4, 2021. The record date is January 29, 2021, and the payout date was set for February 19, 2021.
Jan Tomanek, Fio banka, as
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