(Alliance News) - Redelfi Spa reported Monday that it ended 2023 with a net profit of EUR3.0 million, up sharply from EUR300,000 in 2022.

Value of production rose to EUR11 million from EUR4.5 million, surpassing the 2023-2026 business plan guidance of EUR10.3 million to EUR10.5 million.

Ebitda increased to EUR5.1 million from EUR1.7 million, with margin up to 46.3 percent from 37.3 percent, while operating income increased to EUR4.6 million from EUR1.1 million in the previous year.

Net financial position stood at EUR4.8 million, up from EUR600,000 as of Dec. 31, 2022 due to the bond loan subscribed by Anthilia in April 2023 and investments made during the year. However, this value is an improvement compared to the figure in the updated 2023-2026 plan, which projected a NFP value of between EUR5.6 million and EUR5.8 million as of December 31, 2023.

Redelfi's stock is down 1.6 percent at EUR6.10 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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