(Alliance News) - Bialetti Industrie Spa reported that it ended 2023 with revenues up 6.1 percent to EUR141.2 million from EUR133.1 million in the previous year.

Ebitda increased to EUR19.2 million from EUR16.1 million in the previous year while operating income rose to EUR14.9 million from EUR11.1 million in 2022.

The company ended the year with a net loss reduced to EUR2.2 million from the EUR4.0 million loss a year earlier. As Bialetti explains, this result was mainly weighed down by the increase in financial expenses of EUR19.7 million from EUR16.7 million in 2022, generated by the rise in interest rates, an effect partially offset by the loss, from discontinued operations net of tax effects of EUR3.1 million from EUR1.8 million in 2022, related to the divestment of the Cookware business.

Net financial debt-including the effects of IFRS 9 and IFRS 16-was EUR108.1 million as of December 31, 2023, up slightly from EUR106.6 million as of December 31, 2022.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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