(Alliance News) - ATON Green Storage Spa reported Friday that it ended 2023 with a net profit of EUR3.7 million compared to EUR7.2 million in the previous year.

Revenues fell to EUR41.8 million from EUR50.7 million. The Storage line, aimed at multiutilities and installation companies, is the company's core business with 82 percent of revenues in 2023. The Industrial line, accounting for 4 percent of revenues, aimed at the production and marketing of electronic boards for train air conditioning systems and remote control systems for forklift batteries, amounts to EUR1.5 million, up from EUR965,000 in 2022. The Energy Efficiency line weighs in at 14 percent of revenues in 2023 and is mainly aimed at households benefiting from government incentives. This new business was strongly consolidated during 2023, with revenues of EUR5.9 million compared to the 2022 figure of EUR3.9 million

Ebitda declined to EUR8.1 million from EUR11.2 million and operating profit to EUR6.6 million from EUR10.0 million a year earlier.

Aldo Balugani, founder and majority shareholder of ATON, together with his brother Vittorio, said, "Despite the well-known regulatory and legislative uncertainties that characterized FY2023, the company still recorded important levels of revenues, consolidating its leadership position in the Italian market, and looks forward to FY2024 with confidence and optimism."

Net financial debt as of December 31, 2023 is EUR13.4 million compared to EUR12.3 million as of December 31, 2022.

ATON Green Storage's share price is up 0.3 percent to EUR6.52 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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