(Alliance News) - Immsi Spa reported Tuesday that it ended 2023 with revenues down to EUR2.02 billion from EUR2.13 billion in 2022 and profits double its performance.

Ebitda rose to EUR307.8 million from EUR287.3 million, reaching a level the group has never seen, while operating profit rose to EUR160.8 million from EUR143.7 million in 2022. Ebitda margin rose to 15.2 percent from 13.5 percent, and Ebit margin increased to 8 percent from 6.8 percent a year earlier.

Pre-tax profit, on the other hand, fell to EUR90.9 million from EUR96.8 million, impacted by taxes of EUR36 million from EUR33 million in 2022, while net income before minorities fell to EUR54.9 million from EUR63.9 million a year earlier.

Immsi Group's net debt as of December 31, 2023 was EUR827.4 million from EUR731.7 million recorded as of December 31, 2022. In 2023, the Immsi group reported investments of EUR176.6 million from EUR154.5 million in 2022.

The board of directors will propose to shareholders to distribute a balance on the dividend of EUR2.5 cents, gross of tax, per eligible ordinary share, in addition to the interim dividend of 1.5 cents paid in November 2023, for a total dividend for the 2023 fiscal year of 4 cents - totaling EUR13.6 million and up from 3.9 cents on 2022. The ex-dividend date is May 20, 2024, the record date May 21, 2024, and the payment date May 22, 2024.

Immsi's stock is up 1.0 percent at EUR0.59 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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