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Investing.com -- Swiss materials manufacturer OC Oerlikon saw a surge in its share value on Tuesday, following an announcement of a significant increase in its net profit for the year 2024.
The company's shares traded 8.6% higher at 4.19 Swiss francs in the morning trading session in Europe.
The company reported a net profit of 66 million Swiss francs ($73.3 million) for 2024, showing a substantial increase from the previous year's 33 million francs, which was affected by one-off charges.
Despite the promising profit increase, Oerlikon's group orders, sales, and earnings before interest, taxes, depreciation, and amortization (EBITDA) were negatively impacted by the weak performance of the automotive and tooling markets.
The operational EBITDA for 2024 fell to 393 million francs, down from 444 million francs in the previous year. However, the company noted a marginal increase in the margin to 16.6%, up from 16.5% in the previous year.
Oerlikon's sales for the year decreased by 12% to 2.37 billion francs, and the order intake also saw a 3.5% reduction, amounting to 2.37 billion francs.
The company's board has planned to propose an ordinary dividend payout of 0.20 francs per share.
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