Prim Increases Turnover by 15% in the First Quarter of 2023, Up to €54 Million

Prim grows in billing and benefits. The Spanish company invoiced €54 million in the first quarter of the year, which translates into a year-on-year increase of 15%, according to the company in a statement.

The increase in the company’s turnover is due to the increase in its business segment, which has led to a 9% rise in both the company’s product portfolio and the results of the companies acquired by the company as part of the plan strategic 2021-2025.

The group has increased the gross margin on sales to 49.1%, compared to 47.1% in the same period of the previous year, a rebound that has arisen as a result of the increase in the price of some products that has generated higher margins. The total amount of gross margin reached €26.8 million in the first quarter of 2023.

Prim presented an EBITDA of €6.6 million in the first quarter of the year, which represents a year-on-year increase of 20.8%.  Meanwhile, the operating result increased by 25% in the same period compared to the previous year, up to €4.4 million.

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Prim expects to reach €305 million in sales by 2025

The company’s investments in 2022 resulted in the acquisition of companies in order to increase the group’s efficiency. This is how until March 2023 the investment results have shown a positive reflection.

Among Prim’s latest movements, the sale in February of the Spa segment, specializing in the construction of spas, stands out as part of the company’s strategic plan to improve the group’s financial situation and reinforce growth in the medical technology segments. and in the area of ​​mobility and health care.

Prim aims to achieve sales of €305 million by 2025. The company founded in 1870 expects that by that date 25% of its business will come from exports, focusing on the European market, especially on Italy and Portugal, as well as disembarking on the Asian continent in the markets of China and Japan.  

In 2022, the Madrid group increased its turnover by 17%, up to €197 million, while the company’s net profit reached 8.4 million, which represented a year-on-year decrease of 72%, due to the revaluation of the dollar.

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(Featured image by geralt via Pixabay)

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First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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