Affiliate business Acroud has projected its full year 2022 earnings before interest, tax, depreciation and amortisation (EBITDA) to fall between €8m (£6.7m/$8.5m) and €10m.
If earnings fall within this range, this would be at least 70.2% more than in 2021, when EBITDA came to €4.7m.
Acroud’s board has also released targets for the future of the company, stating that they are aiming for a 20% organic growth in EBITDA, on average, during the financial years from 2023 to 2025. This would suggest EBTDA of between €13.8m and €17.3m by 2025.
The business is also aspiring to decrease its net debt to adjusted EBITDA ratio to a maximum of 2.5 times by December 2025, by conducting operations “at low financial risk”.
The board stated that these are “reasonable long-term expectations” for the company.
This comes after Acroud reported an “exceptionally strong first-quarter performance” in Q1 2022, ahead of the full publication of the results.
