(Alliance News) - Finlogic Spa reported Tuesday that as of Dec. 31, 2022, consolidated revenues amounted to about EUR69.7 million, an increase of EUR18.5 million, or 36 percent, compared to the same period last year when they amounted to EUR51.2 million.

It should be noted that the figure as of December 31, 2022 consolidates the revenues of the two companies acquired in June 2022, which in total amount to about EUR7.1 million. Without the two acquisitions, revenue growth would have stood at 22 percent.

The bullish trend in revenues of the 'Labels' division, the group's core business, continues, marking an increase of 28 percent over 2021 despite the difficulties noted in the second and third quarters related to the scarce availability of raw materials and the extension of delivery times for label materials.

Also growing strongly is the 'Technological Products' division, which follows the positive trend of labels by recording assets of 44 percent, influenced by the entry of Alfacod, which specializes in the marketing of technological products.

Finally, the 'Services and Support' division consisting of technical support activities and consulting and software services registers an important growth of 127%.

Finlogic is unchanged at EUR11.70 per share.

By Claudia Cavaliere, Alliance News reporter

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