Aages business grew by 13% last year

English Section / 28 februarie

Phopto source: facebook / AAGES SA

Phopto source: facebook / AAGES SA

Versiunea în limba română

The management of the company wants to distribute a dividend with a yield of 6%

The manufacturer of induction heating installations Aages Târgu Mureş (AAG) reported, for last year, a net profit of almost 6.8 million lei, slightly below that of the previous year, of 6.9 million lei, while the figure of net business had an increase of 13.3%, up to 43.3 million lei, according to the company's report published, yesterday, on the website of the Bucharest Stock Exchange (BVB).

The increase in business is due to the increase in the value of the production sold last year, compared to 2022, according to the issuer.

Operating expenses amounted to 38.2 million lei, close to those of the previous year. Materials and goods expenses were 18.3 million lei, down 6.1%, while personnel expenses amounted to 13.9 million lei, 12.4% higher than last year 2022. The operating profit was 7.7 million lei, 2.4% below that of the previous year, a result that was eroded by a loss from financial activities of 0.66 million lei.

The management of the company called the shareholders to the balance meeting on April 25 with the proposal that, from last year's profit, the amount of 2.5 million lei be distributed as dividends. The dividend per share is 0.25 lei, which compared to the closing price of AAG securities at the end of the first trading session of this week, 3.8 lei, is equivalent to a gross yield of 6.6%.

On the agenda of the shareholders' meeting in April is also the proposal to carry out a plan to buy back at most 1% of the company's capital, at prices between 2 lei and 5 lei per share. The redeemed titles will be allocated to the company's employees in order to attract and retain key employees, under certain conditions.

The company's majority shareholder is AAGES Head Invest, with a 55% stake in the manufacturer of induction heating installations, a company whose stock market valuation is around 38 million lei.

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