It was a record 2017 for the Amplifon group, which closed the year with a net profit up 58,1%, to 100,6 million, while revenues showed a +12,5% at constant exchange rates , to 1,266 billion.
“This result – reads a press release – was driven by strong organic growth (+6,6%) and the excellent contribution of acquisitions (+5,9%), while the foreign exchange impact was negative for 0,8%. Ebitda, net of non-recurring charges, increased by 14,9% to reach 217,5 million euros, with an increase in the incidence on revenues of 50 basis points”.
At December 31, 2017, free cash flow amounted to 98 million euros, an increase of 15,5 million euros compared to 2016, while net financial debt, equal to 296,3 million euros, shows an increase compared to 224 million euros at December 31, 2016 as a result of the acquisitions completed during the year.
Acquisitions which involved an outlay of 111,5 million euro while 36,2 million euro were spent on the purchase of treasury shares and 15,3 million were distributed in the form of dividends. As regards the fourth quarter alone, Amplifon saw revenues rise by 13,6% to 364,2 million euro thanks above all to strong organic growth (+8,4%) and the contribution deriving from acquisitions (+5,2, 2,9%), while the exchange rate had a negative impact of XNUMX%.
Amplifon's Board of Directors will propose to the shareholders' meeting convened for April 20 to distribute a dividend of 0,11 per share, for an amount of Euro 24.089.078. The coupon detachment will take place on 21 May 2018 with payment starting on 23 May.
The board of directors also resolved to submit to the shareholders' meeting a proposal for authorization for a new plan for the purchase and disposal of treasury shares, subject to revocation of the current plan which expires in October 2018. The new authorization is requested for a period of 18 months from the date of the shareholders' meeting and is aimed at allowing the purchase and disposal of a number of new shares that lead the company, where the right to purchase is exercised in full and taking into account the treasury shares already in the portfolio, to hold a total number of treasury shares not exceeding 10% of the share capital. The treasury shares currently held by the Company are equal to 3,246% of the share capital.
