(Alliance News) - The board of directors of Fope Spa on Tuesday approved the financial statements for the year ended Dec. 31, 2022, which closed with a profit of EUR10.8 million, up from EUR5.0 million in 2021.

Net revenues are EUR62.2 million, up 54 percent from EUR40.3 million in 2021 and 78 percent over the 2019 figure of EUR35.0 million.

Ebitda stands at EUR15.8 million compared to EUR8.8 million in 2021. Margin stands at 26%, higher than both the 2021 figure of 22% and the result and pre-pandemic of 19 in 2019.

Ebit is EUR13.9 million, a significant improvement from EUR6.8 million in 2021 and EUR5.4 million in 2019.

Net financial position is cash positive EUR1.5 million compared to EUR1.9 million as of Dec. 31, 2021.

Fope closed Tuesday's session in the green by 2.6 percent at EUR32.00 per share.

By Maurizio Carta, Alliance News reporter

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