The Correa Group closes 2024 with a record 11% growth in turnover and a 34% increase in results. It increases its operating profit by 31% to reach an EBITDA of 18.5 million euros and will propose a record dividend of 0.30 euros per share. It activates important investments to expand and modernise its production facilities.
The Correa Group strengthens its position in the market of manufacturers of large machining centres, obtaining the best records in its history in terms of both turnover and results.
During 2024, the Group continued the double-digit growth already achieved in previous years, ending the year with an 11% increase in turnover to 121.5 million euros. This increase has been accompanied by a significant improvement in profitability which translates into a 34% growth in Profit Before Taxes compared to the same period of the previous year, reaching an EBITDA at year-end of 17.1 million euros. These results reflect a return on revenues of 14.1%, a ratio that is well above the sector average.
This performance highlights the solid position of the Correa Group, which, despite the uncertainties of the current situation, continues to consolidate its position on the basis of a strategy focused on the quality of its product and service, with innovation as the guiding thread to always be at the forefront of technology, without ever forgetting the importance of management at all levels, always focused on profitability through efficiency. These parameters, understood as the guiding principles of all those who today form part of this business organisation, make it a leader in profitability compared to its European competitors.
The high cash generation from the Group´s activities has enabled it to meet its commitment to remunerate the Company´s shareholders. In this respect, the Board of Directors will propose to the General Meeting of Shareholders the payment of a dividend of 0.30 euros per share, which represents an increase of 11% over the previous year.
Lastly, it should be noted that, with these turnover levels, which are the highest in its historical series, the Group is approaching the limits of its production capacity, with an occupancy rate of its facilities close to 100%. The market forecasts, after a very good year of order intake, which allows to start 2025 with a portfolio of more than 78 million euros, together with the Group´s own projection, consolidate its will to update and grow. During 2024, the Group has activated important investments to improve, update its production equipment and expand the facilities of several of its companies, including the Group´s parent company, Nicolás Correa S.A.
‘2024 has been a great year in terms of results for our company, a year in which we have achieved historic figures that consolidate us as a European reference Group in our machine tool segment. It was, however, a very difficult year for us, due to the loss of our Chairman, Jose Ignacio Nicolás Correa, whose memory we honour, focusing on the profitability and growth of our business. At Grupo Correa we are moving forward, both with our product and with our own evolution as a company, towards a future in which the modernisation of industrial facilities has become a priority need for our customers, both in the search for efficiency and in the need to adapt them to a new working reality. For us too. We are living a decisive moment, a new industrial revolution that we are facing immersed in new and important investments, confident that, together with our innovative vocation, they will allow us to continue on the path of sustainable and profitable development that characterises us today, relying in this new stage on technology, digitalisation and automation as the basic pillars of the future. We face 2025 by setting ourselves new challenges despite the concerns generated by the geopolitical situation we are currently experiencing. We are confident in the robustness of our solutions, and in our diversification policies carried out in sectors and markets over the years to be able to face them, but, above all, in a team that, with its knowledge, involvement and commitment, is the one that allows us to consider them and pursue them with enthusiasm,’ concludes the CEO of Grupo Correa, Carmen Pinto.
