(Alliance News) - Neurosoft SA reported that it ended 2022 with consolidated revenues rising to EUR23.0 million from EUR15.8 million in the previous year.

Gross margin rose to EUR5.3 million from EUR3.5 million while Ebitda grew to EUR2.9 million from EUR2.4 million in the previous year.

Operating income doubled to EUR1.6 million from EUR800,000 in 2021 while net income grew to EUR1.3 million from EUR900,000 a year earlier.

Net debt is EUR2.9 million from EUR450,000 at the end of 2021.

"In fiscal year 2022, Neurosoft achieved the highest revenue in its history due to its operational flexibility, improved offerings, and continued brand awareness despite the clearly challenging global environment affecting the domestic market and economy," said Epameinondas Paschalidis, chief executive officer of Neurosoft.

"Our robust business activities throughout the year focused on systems integration projects and cybersecurity solutions produced significant progress, leading to a significant full-year revenue increase of 46 percent. Our business model demonstrated resilience, delivering solid financial performance, and we remain optimistic that 2023 will be another successful year for the company. At Neurosoft, we are constantly adapting and innovating. We offer value-added solutions, strengthen our brand and invest in our people.

Neurosoft's stock closed Thursday up 1.3 percent at EUR0.76 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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