(Alliance News) - Gibus Spa announced Tuesday that its board of directors approved its consolidated operating results as of Dec. 31, 2022, having reported revenues of EUR84.0 million, up about 16 percent from EUR72.7 million in the same period last year.

The company points out that the result is due to both organic growth and the acquisition of the Leiner Group on September 30, 2022.

Italy posted revenues of EUR62.1 million from EUR53.9 million in 2021, up 15 percent; while revenues earned abroad amounted to EUR21.9 million from EUR18.8 million and up about 17 percent.

In terms of product lines, the Gibus Group records revenues related to the Luxury High End segment of EUR35.0 million from EUR32.4 million in 2021, while the Design Line records revenues of EUR40.6 million. Incremental revenues attributable to the Leiner Group amount to EUR4.2 million, of which EUR800,000 is generated by the subsidiary Schirmherrschaft Vertriebs, which operates direct sales to end customers exclusively in the restaurant and hotel industry.

Regarding pro forma results, with the scope of consolidation including Leiner Gmbh in full, these amount to EUR111.8 million, with Leiner's contribution of EUR32.0 million. Italy has revenues of EUR62.1 million while revenues generated abroad are EUR49.7 million.

Gibus trades down 2.7 percent at EUR16.55 per share.

By Claudia Cavaliere, Alliance News reporter

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