(Alliance News) - Laboratorio Farmaceutico Erfo Spa reported that it closed 2023 with a net profit of EUR600,000, broadly in line with the EUR700,000 profit recorded in 2022.

Consolidated group revenues as of December 31, 2023 were approximately EUR6.2 million and up 23 percent from EUR5.0 million as of December 31, 2022 and up approximately 3 percent from pro-forma revenues as of December 31, 2022 of EUR6.0 million.

Revenues from franchise networks are 77% of consolidated revenues, up 20% year-on-year, and revenues from direct centers are 11% of consolidated revenues and up 41%. Medical Division revenues are 4% of consolidated revenues and up 96%. Other revenues stand at 8% of consolidated revenues and up 6%.

Ebitda generated by the company is EUR1.6 million, with a margin of 26% of revenues. The Ebitda figure is positive considering that in absolute value it is in line with 2022. In 2023, in fact, the company significantly strengthened the management structure and incurred recurring costs related to listed status, which in the previous year impacted only one half year. The pro forma Ebitda for 2022 recorded was EUR1.8 million.

Ebit for the period was EUR800,000 compared to EUR1.0 million in 2022, partly due to an increase in depreciation and amortization of about EUR100,000.

Adjusted Net Financial Position is cash positive and equal to about EUR1.7 million, an improvement from December 31, 2022, when it was about EUR1 million.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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