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which recently revealed a strategic plan for the next 5 years reported record results for it, but nevertheless missed market analysts’ expectations. The company recorded record results against the background of the surge in prices at the beginning of the year, but since March the stock has been on the decline and has lost 36% of its value.
In the fourth quarter, ACL earned 28 cents per share on revenues of $2.09 billion, below expectations for 29 cents per share on revenues of $2.2 billion. For the entire year, the company earned $1.82 per share, below the expected $1.85 per share. Annual revenues were $10.15 billion – in line with expectations.
The forecast for the coming year: back to reality. ACL registered an adjusted EBITDA of 4 billion dollars in the year that ended, but the expectation for the coming year is 2.3 billion dollars, of which EBITDA of about 1.1 billion dollars from the special products business. This is not bad at all, of course, and will indicate continued growth compared to previous years.
Raviv Zoler, President and CEO of ACL said on the background of the reports: “ACL recorded a record in sales of over 10 billion dollars and EBITDA of over 4 billion dollars in 2022, exceeding our forecast which was raised every quarterly. As expected, we saw a return to the seasonality that characterizes the fourth quarter. During the year we faced global uncertainty, supply chain challenges and increased costs. At the same time, we continued to focus on increasing operational efficiency and productivity, as well as launching innovative products, while creating significant value for all our stakeholders. In 2023, we will continue to be focused on the realization of our five-year strategic plan and on leveraging new opportunities in the specialty products business, while strictly maintaining expenses, and a commitment to continue providing innovative and sustainable solutions to our customers all over the world.”
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