The Annual General Meeting of Shareholders (AGM) of Viscofan has approved on Tuesday a total shareholder remuneration of approximately 3.10 euro/share for the year 2024.
This dividend consists of an advance payment of 1.437 euros per share, made in December 2024, to which the 1.653 euros per share of ordinary complementary dividend and 1 euro per share of extraordinary complementary dividend are added, which are expected to be paid in June under the optional cash dividend or ‘Viscofan Flexible Remuneration’ share system, in addition to the 0.01 euros per share attendance premium, as reported by the company in a statement.
The payment of 3.10 euros/share represents a 3.1% increase compared to the dividend from the previous year, and «demonstrates the financial strength and value generation capacity of the company in the medium and long term,» Viscofan highlighted.
On the other hand, the AGM has submitted for approval the annual accounts and balance sheet for the year 2024.
The company recorded revenues of 1.204 billion euros in the year, 1.8% lower than in 2023, due to the decrease in cogeneration energy sales.
However, net profit increased by 11.4% to reach 157 million euros, marking a new historical high, and EBITDA increased by 6.3% to 285.3 million euros.
«These results reflect the adaptability and strength of Viscofan’s business model, which has offset the weakness in certain market areas with the recovery of casing volumes, the replacement of animal casings with collagen, and the improvement of operational efficiency, within the framework of the Beyond25 strategic plan,» the company emphasized.
Looking ahead to 2025, the conclusions of the first quarter of the year were also discussed, with revenue and operational results growth in line with the company’s estimates.
In addition to the approval of result allocation and shareholder remuneration, the AGM of Shareholders has endorsed the individual and consolidated annual accounts for the year 2024, as well as the consolidated non-financial information statement and sustainability report, reflecting «Viscofan’s commitment to transparency and sustainability,» the company added.
Likewise, the AGM ratified the social management and performance of the Board of Directors during the year, showing confidence in the group’s strategic direction.
Within the ‘Viscofan Flexible Remuneration’ system, two capital increases have been approved with a maximum value of 82 and 72 million euros, respectively, along with authorization to, if necessary, carry out a capital reduction through the amortization of own shares.
The AGM also approved the re-election of PricewaterhouseCoopers Auditores, S.L. as the auditor of Viscofan’s accounts and its consolidated group for the year 2025.
Finally, a new long-term incentive in shares and cash for the 2025-2027 period was approved, aimed at the CEO, members of the management team, and key employees of the group, strengthening the alignment of their interests with sustainable value creation for shareholders.
José Domingo de Ampuero y Osma, non-executive chairman of Viscofan, highlighted during his speech at the AGM that «the year 2024 confirms Viscofan’s solid growth potential, with results that exceed our forecasts and reaffirm the strength of our business model.» «Thanks to this foundation and the renewed confidence of our shareholders, Viscofan is moving steadily towards its strategic objectives and maintains a sustainable and growing shareholder remuneration policy,» he noted.