Neo Performance Materials (TSE:NEO) has released an update.
Neo Performance Materials Inc. reported a revenue decline of 10.7% to $571.5 million for the year 2023, with adjusted EBITDA dropping by 52.9% and an adjusted net loss of $1.0 million. Despite these challenges, the company advanced its strategic goals by investing in new plants, implementing cost-saving measures, and returning value to shareholders through dividends and share repurchases. The company is focusing on long-term growth in the critical material and electric vehicle sectors, with key developments including the construction of a rare earth magnet plant in Estonia.
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