Memorandum

Dear Shareholders:

2023 has truly been a pivotal year for us. Building upon our solid track record, with satisfactory results, we have achieved an excellent year.

The consolidated figures for the Group reflect this success, with revenues reaching 109.9 million, EBITDA at 14.1 million, and EBT standing strong at 12.8 million. These numbers represent a substantial growth compared to the previous year.

In addition, we consolidated our net financial debt in line with previous years: -11.7 million, despite our policy of increasing dividend payments and initiating disbursements for the new investment in "Correa Mecanizado, SL".

Therefore, we can say that the achievements of 2023, as a culmination of the good progress of the Company, allow us to undertake important investments that will make our manufacturing much more efficient, will allow us to greatly expand our assembly capacity in the current plant.

These investments serve to show our stakeholders and customers how a production plant can be organised as "the factory of the future".

We are already full steam ahead to achieving this new goal, while remaining focused on profitability.

Despite the prevailing financial and geopolitical uncertainties, we are taking proactive measures to sustain our commercial success and navigate through challenging times.

None of this would have been possible without the dedication and expertise of our exceptional team, whose contributions have been instrumental in driving our success.

With our sights set on the future, we are determined to make 2024 another year of achievements and growth for all stakeholders involved.

Thank you for your continued support and trust in our company.

Warm regards,

Mr. José Nicolás-Correa Barragán
Chairman