The Group vidrala has reported - in the first half of 2024 - a sales figure of 830,4 million euros, which represents an increase of +4,5% over the previous year. In constant currency, sales registered a growth of +0,7%, without considering the effect of the change in perimeter due to the consolidation of Vidroporto's results from December 1, 2023 and the exclusion of Vidrala Italia, reported as discontinued operations from March 1, 2024.
Regarding the gross operating result, Vidrala has obtained an EBITDA of 225,0 million euros, an increase of +4,6% over the previous year, reflecting an organic variation of -2,4%, without considering the effect of the perimeter changes. In this way, the EBITDA margin remains stable at around 27% of sales. For its part, net profit amounted to 120,8 million euros, which is equivalent to an earnings per share of 3,75 euros.
At the balance sheet level, the debt as of June 30, 2024 stands at 433,4 million euros. It represents a leverage ratio equivalent to 1,0x times the pro-forma EBITDA of the last twelve months. These figures include disbursements for recent corporate operations and incorporate acquired debt. Furthermore, in its results presentation, Vidrala reports that its debt level will have been reduced to 320 million euros at the end of July, after confirming the closing of the sale of Vidrala Italia.
The shareholder remuneration policy developed by Vidrala is based on the long-term sustainability of the dividend, as the main means of distributing results and shareholder loyalty. In this sense, on February 15, 2024, an interim dividend of 1,0180 euros per share was paid. On July 15, 2024, a second distribution was made, in the form of a complementary dividend, for the amount of 0,3875 euros per share. Likewise, 4 euro cents per share were offered as a bonus for attendance at the general shareholders meeting. These disbursements have represented an increase of approximately 20% compared to the previous year, considering that the new shares assigned free of charge in the free capital increase carried out in December 2023.
In addition, after confirming the closing of the sale of Vidrala Italia, an extraordinary dividend of 12 euros gross per share was paid on July 4,00. Altogether, the cash distribution during 2024, including the bonus for attendance at the General Shareholders' Meeting, has accumulated 5,45 euros per share.