Mayor, an Italian corporate group active in the engineering, technological and energy sectors, closed 2023 highlighting a significant growth of the main economic and financial indicators. THE revenues they reached 4,3 billion euros, (+23% on 2022, exceeding the guidance). L'Ebitda rose to 274,4 million euros, with an increase of 31,1%, also favored by a greater contribution from the Sustainable Technology Solutions division. The Net income was 129,5 million euros, (+43,3%). The adjusted net assets were 337,9 million euros, with an increase of 244,1 million, thanks to robust operating cash generation.
THEacquisition of new orders for 11,2 billion euros led to a solid backlog of 15 billion euros.
Dividend of 0,197 euros per share
Maire's Board of Directors approved the proposal regarding the allocation of the operating result and the distribution of a dividend of €0,197 per share, up 59% from the previous year. This resulted in an increase in the pay-out from 45% to 50%, demonstrating confidence in the future performance of the company and the desire to remunerate shareholders.
Maire: the 2024 guidance
The Board of Directors approved the Guidance 2024 which predicts another year of strong growth. Forecasts indicate revenues included between 5,7 and 6,1 billion euros with an increase of 30-40% compared to the previous year, reaching the level envisaged in the 2023-2032 Strategic Plan four years early. Ebitda between 360 and 405 million euros. THE capital expenditures are estimated between 140 and 170 million euros, mainly dedicated to the expansion of the technological portfolio. An increase in adjusted net assets compared to December 31, 2023 is also expected
Maire: the strategic plan 2024-2033
Maire presented his Strategic Plan for the period 2024 - 2033, outlining the prospects and strategies for the future. In the downstream sector, a growing trend towards investments is expected, increasingly focused on low-carbon solutions, in order to support the overall growth of the Group. Supporting this direction, Sustainable Technology Solutions will aim to consolidate its proprietary technologies and expertise in process engineering, to support the transition towards more sustainable production and a circular economy. Meanwhile, Integrated E&C Solutions will benefit from project growth, thanks to its consolidated execution capabilities, enhanced by continued enhancement of engineering capabilities.
The forecast for 2033 indicates revenues above 10 billion euros and an Ebitda of around 1 billion, with a double-digit margin by the end of the plan. The strongest growth in volumes is expected in the first five years, while profitability will benefit from a growing contribution from the technological business and integrated projects with greater added value. Maire plans to invest over 1 billion euros, including through mergers and acquisitions operations, to support the expansion of the MET technology portfolio and development initiatives.
Furthermore, a increase in payout to 55% in 2025 and 66% from 2026 regarding dividends. The company enjoys strong cash generation, which is reflected in the growth of adjusted net assets, which is expected to exceed 1,6 billion in 2033, taking into account cumulative investments and dividends.
"We are extremely satisfied with the results that we presented today – commented the CEO Alessandro Bernini – The strategic choices announced last year are confirming their validity and, also for this reason, the market is rewarding us. The main financial indicators grow by double digits. Increases the contribution of Sustainable Technology Solutions business unit, which recorded 40% higher revenues. Our technological leadership has been consolidated with the expansion of the portfolio of solutions to support our customers' decarbonisation objectives. But above all, today we see an acceleration in revenues with results that only last year we expected to achieve in 2028."
"We have acquired orders for over 11 billion, successfully exploiting the super cycle of downstream investments and bringing our portfolio to 15 billion – added Bernini – We continue to expand our operational centers, adding new ones. In 2023, engineering capacity, measured in hours of work, recorded a growth of 20% compared to 2022. All this would not have been possible without the great professionalism that contributes to achieving our goals on a daily basis. Our people and their talent are our main assets and we will continue to invest in them."
