(Alliance News) - Cairo Communication Spa reported Thursday that it closed fiscal year 2023 with a profit of EUR38.4 million, up from EUR32.1 million in 2022.

The proposed dividend is EUR0.16 per share, up from EUR0.14 a year earlier.

Revenues rise to EUR1.16 billion from EUR1.18 billion a year earlier.

Ebitda increases to EUR167.5 million from EUR147.1 million in 2022.

Net financial debt is EUR4.8 million from EUR15.2 million in the previous year.

As for the future, in the absence of a worsening of the consequences attributable to the continuation and developments of the conflicts in Ukraine and the Middle East and/or cost dynamics, "the group believes that it is possible to set itself the goal of achieving strongly positive margins in 2024, up from those achieved in 2023, and to continue with further cash generation from operations," the company's statement reads.

Cairo Communication's stock trades in the green by 0.3 percent at EUR2.00 per share.

By Chiara Bruschi, Alliance News reporter

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