IBU-tec advanced materials AG: Share buyback program successfully completed
- Purchase of 1.8 million shares represents 3.4% of the share capital
- Strengthening of the company's financial flexibility
IBU-tec advanced materials AG announces the successful completion of its share buyback program. The company purchased a total of 1,800,000 of its own shares for a total consideration of approximately EUR 27.5 million. The shares were acquired through the stock exchange at an average price of EUR 15.31 per share.
The share buyback program was initiated in December 2022 and was approved by the company's Annual General Meeting on May 9, 2023. It was intended to strengthen IBU-tec's financial flexibility and to support the company's long-term growth strategy.
With the completion of the share buyback program, IBU-tec's total number of shares has been reduced from 53,614,459 to 51,814,459. This represents a reduction of approximately 3.4% of the company's share capital.
IBU-tec is a leading manufacturer of advanced materials for the automotive, aerospace, and industrial sectors. The company's products are used in a wide range of applications, including lightweight construction, thermal management, and wear protection.
In 2022, IBU-tec generated sales of EUR 185.3 million and EBITDA of EUR 21.7 million. The company employs approximately 1,100 people worldwide.
