(Alliance News) - Pattern Spa's sales revenues as of Dec. 31, 2022 stood at EUR109.2 million compared to EUR69.5 million as of Dec. 31, 2021, showing a significant increase of 57 percent, the company announced Monday.

Regarding the breakdown of revenues by business sector and the related changes from the previous year, the company shows a significant increase of 35 percent in the knitwear sector and 14 percent in apparel. The leather sector also showed a significant increase, however, the figure cannot be compared with those of the previous year because only one month of the fiscal year was consolidated the year before.

Ebitda was EUR11.1 million compared to EUR7.7 million as of Dec. 31, 2021, up 45 percent and with margin standing at about 10 percent compared to about 11 percent as of Dec. 31, 2021.

Net income for the year increased by 11% to EUR4.1 million compared to EUR3.7 million as of December 31, 2021.

Net financial position was EUR13.9 million compared to EUR3.1 million cash positive as of December 31, 2021, substantially due to the various M&A transactions concluded during 2022. The level of cash and cash equivalents was EUR19.1 million compared to EUR22.8 million at the end of 2021.

Pattern's stock closed Monday down 0.3 percent at EUR7.24 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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