(Alliance News) - ABP Nocivelli Spa reported Tuesday that it made a profit of EUR10.6 million in the year ended June 30, up from EUR9.6 million in the previous year.

Revenues amounted to EUR73.9 million, up from EUR51.4 million realized in 2022-2023. The change is mainly attributable to the completion of work under contracts started in the previous year.

Ebitda amounted to EUR15.3 million, up from EUR13.9 million in FY2022, due to an increase in contracts acquired and improved margins on contracts already contracted. The Ebitda margin consequently stands at 20.4 percent from 22.7 percent as of June 30, 2022.

Ebit for the last fiscal year was EUR13.4 million, up from EUR12.4 million in the previous year.

Net financial position and? cash positive and amounted to EUR40.1 million from EUR39.7 million as of June 30, 2022, essentially unchanged from the previous year.

As far as the future is concerned, "although already enjoying a backlog of around EUR800 million," the company's note reads, "the parent company continues to participate in the main tender procedures, paying particular attention to those tenders that allow the stipulation of agreements with the Public Administrations aimed at the redevelopment of health care and hospital facilities, which, being obsolete and inadequate, need modernization work in order to meet not only the demand of the territories, but also the new needs that have emerged as a result of the pandemic.

The company is already classified as a "supplier to a number of important state-owned companies, for which it has already won numerous tenders," the statement continues.

In addition, it goes on to say, "the company is seizing the opportunities arising from the PNRR funds that are finally being used by government agencies. The company has already won tenders for the implementation of works that can be financed with PNRR funds amounting to approximately EUR30 million. The economic implications of these awards will hopefully materialize over the next three fiscal years."

ABP Nocivelli's stock is down 1.6 percent at EUR3.70 per share.

By Chiara Bruschi, Alliance News reporter

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