(Alliance News) - FOS Spa reported Thursday that it closed 2023 with a profit of EUR1.3 million in line with the previous year's figure.

Production value amounted to EUR26.4 million, up 22 percent from EUR21.6 million, and revenues rose to EUR23.3 million from EUR18.4 million, up 24 percent from the previous year.

Adjusted Ebitda rises to EUR4.6 million, up 20% from EUR3.9 million a year earlier.

Ebit is EUR2.3 million, up 4 percent from EUR2.2 million in 2022.

Net financial position is cash positive EUR340,000 from EUR40,000 in 2022. The improvement, the company writes in a note, stems mainly from the group's business results. However, this cash generation "is also affected, however, by the impact of the buy-back activity carried out in the reporting period for about EUR120,000, the outlay incurred during the capital increase of the start-up Mr. Pot Still for EUR100,000, extraordinary charges incurred for about EUR115,000, and, to a lesser extent, the work incurred on the new headquarters," the statement says.

FOS stock is up 1.3 percent at EUR3.08 per share.

By Chiara Bruschi, Alliance News reporter

Comments and questions to redazione@alliancenews.com

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