I-Tech : I-Tech increases turnover and operating profit - proposes increased dividend (update)

(clarifies in paragraph on dividends) Biotech company I-Tech reports increased sales in the fourth quarter compared to the same period last year. The operating result showed a turnaround to profit. The board proposes an increased ordinary dividend and an extraordinary dividend. Sales increased 128.5 percent to SEK 57.8 million (25.3). Operating profit was SEK 16.8 million (-0.5), with an operating margin of 29.1 percent. Profit after tax amounted to SEK 14.3 million (-0.4). The Board of Directors proposes an ordinary dividend of SEK 1.00 per share for 2024 and an extraordinary dividend of SEK 0.75 per share, totaling SEK 1.75 per share, corresponding to 53 percent of net profit for the year. For 2023, a dividend of SEK 0.75 per share and an extra dividend of SEK 0.75 per share were paid, totaling SEK 1.50 per share, corresponding to 88% of net profit. Cash and cash equivalents amounted to SEK 100.2 million (83.3). "2024 has been another record year for I-Tech. We signed supply agreements with two more global paint companies, total sales grew by 48 percent year-on-year and our financial performance continued to improve, thanks to good cost control and despite a significant increase in external costs related to regulatory processes. Operating profit for the year increased by 94 percent to SEK 45.5 (23.4) million," writes CEO Markus Jönsson. I-Tech, SEK million Q4-2024 Q4-2023 Change in Net sales for the year 57,8 25,3 128,5% Operating profit/loss 16,8 -0,5 Operating margin 29,1% Net profit/loss 14,3 -0,4 Cash and cash equivalents 100,2 83,3 20,3% Ordinary annual dividend per share, SEK 1,00 0,75 33,3%