SOL Full Year 2023 Earnings: Revenues Beat Expectations, EPS In Line

SOL (BIT:SOL) Full Year 2023 Results

Key Financial Results

• Revenue: €1.50b (up 5.6% from FY 2022).
• Net income: €145.7m (up 9.0% from FY 2022).
• Profit margin: 9.7% (in line with FY 2022).
• EPS: €1.61 (up from €1.47 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

SOL Revenues Beat Expectations

Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) was mostly in line with analyst estimates.

The primary driver behind last 12 months revenue was the Technical Gases Area segment contributing a total revenue of €809.1m (54% of total revenue). Notably, cost of sales worth €1.15b amounted to 76% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to €144.8m (69% of total expenses). Explore how SOL's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Chemicals industry in Italy.

Performance of the Italian Chemicals industry.

The company's shares are down 2.5% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We have a graphic representation of SOL's balance sheet and an in-depth analysis of the company's financial position.

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