(Alliance News) - Ilpra Spa on Wednesday reported that it has approved the results for the year ended Dec. 31, 2022, having reported a net profit of EUR6.5 million, up 23 percent from EUR5.3 million in the same period last year.

Revenues stood at EUR48.7 million, a 15 percent improvement from EUR42.2 million in 2021.

Ebitda stands at EUR11.2 million, up 25 percent from EUR9.0 million in the same period in 2021.

Net financial debt is cash positive EUR3.5 million compared to a cash positive EUR3.4 million as of Dec. 31, 2021.

The company announced that authorization has been arranged for the purchase and disposal of treasury shares with a countervalue not exceeding EUR1 million.

With an eye to the future, "A year after the start of the war between Russia and Ukraine whose consequences have led to an increase, sometimes unjustified, in the prices of energy products and raw materials, as well as the possibility of shortages of the latter, the situation at the moment appears normalized with a reduction in energy costs, especially gas and raw materials, which make a recession in the Eurozone and a forecast of Italian GDP growth of 0.8 percent averted," the company explained in a note.

"The group moved early to make itself energy autonomous through the installation of solar panels and the transformation of the car fleet to fuel-efficient hybrid cars. It has also worked hard to close trade agreements to ensure the supply of raw materials and electronic equipment, such that it can cover its existing order book. As far as the first months of 2023 are concerned, there are no particular impacts on the economic, financial and production performance of the various consolidated companies, nor are any particularly destabilizing impacts foreseeable in the future."

Ilpra closed Wednesday flat at EUR4.34 per share.

By Claudia Cavaliere, Alliance News reporter

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