Fri, Mar 8th 2024
Mobilezone reports a slight sales increase but lower profits in 2023, with plans to boost future dividends.
The cell phone provider Mobilezone generated slightly higher sales in the 2023 financial year, but less profit. In future, the company intends to distribute a higher dividend to its shareholders.
In the 2023 financial year, Mobilezone increased its turnover by 1.1 percent to CHF 1,013 million, as the company announced on Friday. Adjusted for currency effects – Mobilezone makes a good two thirds of its sales in Germany – turnover would have risen by 3.9 percent.
Mobilezone grew in both Switzerland and Germany. After a comparatively weak start in 2023, the company made up significant ground in Germany in the second half of the year. At 1.7%, the increase in sales in Germany was even slightly higher than in Switzerland, where Mobilezone grew by 0.9%.
Operating profit at EBIT level fell from CHF 70.6 million to CHF 65.7 million. The company thus reached the lower end of its own guidance of CHF 65 to 72 million. The corresponding operating margin was 6.5% (previous year: 7.0%).
The bottom line was a 9.3 percent lower net profit of CHF 49.5 million. Mobilezone’s figures met analysts’ profit expectations. In terms of sales, on the other hand, it exceeded the forecasts quite clearly.
Based on the annual result, the Board of Directors is proposing an unchanged dividend of 90 centimes per share compared to the previous year. For the coming years, however, the Board of Directors has decided to slightly increase the dividend payout ratio to between 60% and 80% from the previous 60% to 75% of consolidated net profit.
Mobilezone also announced that it would suspend its share buyback program in 2024. The three acquisitions Digital Republic, SIGA and ENO in the previous year are cited as the reason for this.
Mobilezone is targeting EBIT of between CHF 68 and 75 million for 2024. The company also confirmed its goal of increasing the EBIT margin to 8.0% by 2025.
©Keystone/SDA
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