Mungia (Bizkaia), May 11, 2022 -Grupo Arteche held its first General Shareholders' Meeting this Wednesday since the company's debut on BME Growth. Shareholders were presented with last year's results, which continue along the lines set out in its 2023 Strategic Plan, both in terms of organic and inorganic growth.
At the close of 2021, Arteche achieved revenues of 282 million euros, representing an increase of 6.6% compared to 2020, and a 26.1 million euros EBITDA, equivalent to a 9.3% margin over revenues. Net financial debt was reduced by more than 23% in the year, to 50.9 million euros.
This first General Shareholders' Meeting of Arteche since it became a listed company coincides with the 75th anniversary of the company, a fact that was present in the words that Alexander Artetxe, Chairman and CEO, dedicated to those present: "The 75 years that we are celebrating demonstrate the solidity of the Arteche project over the years and the resilience we have had in the face of the situations that have occurred in each of the decades."
BME Growth: a new step for further growth
In the same way, Alexander Artetxe highlighted the milestone of having become a listed company: "Going public in BME Growth is articulated as another mechanism to continue with our vocation towards growth, internationalization, and positioning at the forefront of the sector at the right time."
On the agenda, among other matters, the approval of the Group's annual financial statements, the approval of the Board of Directors' management, and the setting of the maximum amount of directors' remuneration for the current year. In 2022, after a year with BME Growth, Arteche will pay a dividend to its shareholders for the first time, amounting to 30% of the net profit for 2021.
In the year in which the company celebrates its 75th anniversary, Arteche thanked the shareholders for their confidence in the project and for their support, which has enable it to continue to grow and become more solid and international.
At a time when the planet is facing major challenges related to energy transition and climate change, Arteche is positioned as a key player to face them with guarantees thanks to its products, which add value to the energy sector and make it possible to carry out electrification, decarbonization and the promotion of renewable energies, and the digitization of the grid.
About Arteche Group
Founded in 1946, the Arteche Group operates in the electrical sector, from generation to distribution, specializing in the electrical equipment, components, and solutions industry. Within this framework, the Arteche Group is among the TOP 3 world leaders in the instrument transformer market, number 1 in the auxiliary relay market, and maintains a regional leadership position in the rest of the products, especially those aimed at highly demanding and value-added markets, such as renewable generation and the railway sector.
The Arteche Group's business is focused on enabling the transmission and distribution of electric power from any generation plant to the end user with efficiency, quality, and reliability. This is why the company invests recurrently in R&D&I, with the intention of improving the quality and efficiency of its products, innovating in the development of new products, and offering the customer a differential added value. Arteche is currently present in more than 175 countries with commercial distribution capabilities; it has 13 factories in Europe, America and Asia, including 6 research centers; and employs more than 2,400 people worldwide.