(Alliance News) - The board of directors of Finlogic Spa on Tuesday evening approved the consolidated financial statements as of December 31, 2022. Net income attributable to the group was EUR4.0 million, up 34 percent from 2021 when it was EUR3.0 million. The board also proposed the distribution of a dividend of EUR0.1089 per share compared to EUR0.1361 in the previous year.

Revenues amounted to EUR69.7 million, an increase of 36 percent from December 31, 2021 when they were EUR51.3 million.

Value of production is EUR72.1 million, up 36 percent from EUR52.8 million in 2021.

Ebitda is EUR11.1 million, up 36 percent from 2021 when it was EUR8.2 million.

"The increase in value is also influenced by the integration as of the second half of 2022 of Alfacod and Ase, which were not present in the 2021 scope of consolidation," the company note reads.

The Ebitda margin is 15 percent and is stable in line with expectations, "and better than the reference market despite the difficulties encountered in managing the increase in raw material costs and delivery delays," the company writes in the released note.

Ebit is EUR6.9 million and corresponding to 10 percent of the value of production marks a 38 percent growth compared to 2021 when it was EUR5 million, after depreciation and amortization of EUR4.2 million.

The net financial position is EUR6.3 million from EUR2.5 million at the end of 2021.

Finlogic closed Tuesday's session flat at EUR11.80 per share

By Maurizio Carta, Alliance News reporter

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