(Alliance News) - Borgosesia Spa reported that it ended 2023 with a net profit of EUR5.6 million, which compares with EUR8.2 million in 2022.

The company made investments of EUR32 million in 2023 while new investments amounted to EUR37.8 million. Last year's production volume dropped to EUR23.3 million from EUR25.6 million in the previous year.

Gross margin from operating activities rose to EUR16.6 million from EUR15.8 million while Ebitda dropped to EUR10.2 million from EUR12.3 million. Cash flow is negative EUR900,000 from negative EUR4.6 million a year earlier.

Financial debt is EUR76.7 million from EUR39.3 million as of Dec. 31, 2022.

The company's board has proposed the distribution of a dividend of EUR0.024 from the 2023 budget, unchanged from that distributed last year.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.