5N Plus (TSE:VNP) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
5N Plus Inc. announced a notable improvement in its 2023 financials, showcasing a record adjusted EBITDA of $38.3 million and a net earnings turnaround from a previous loss to $15.4 million profit for the fiscal year. The company attributes this success to its strategic focus on high-value products and long-term partnerships, which have fueled demand in key markets like renewable energy and space solar power. Despite a strategic exit from certain low-margin products, overall revenue grew by 7% in Q4 2023, driven by increased demand in the Specialty Semiconductors segment.
For further insights into TSE:VNP stock, check out TipRanks’ Stock Analysis page.