(Alliance News) - Nusco Spa ended 2023 with a profit of EUR2.2 million from EUR1.1 million in the year 2022.

Net revenues amounted to EUR56.7 million, up 11 percent from EUR50.9 million in the previous year.

Adjusted Ebitda rises to EUR7.2 million, up 39% from EUR5.2 million a year earlier.

Ebit is EUR4.3 million from EUR2.5 million in 2022.

Net financial debt is EUR2.4 million from EUR7.4 million as of December 31, 2022.

The BoD also resolved to propose to the extraordinary shareholders' meeting to increase the share capital free of charge by a maximum of about EUR1.7 million. "The proposal for a free capital increase through the allocation of new ordinary shares to shareholders," the statement reads, "is motivated by the opportunity to further expand the share capital over time, also in view of the potential exercise of outstanding warrants.

This is the comment of Guerino Vassalluzzo, president and CEO of Nusco: "The group continues to strengthen itself from a financial point of view, to grow in skills and innovation, and to invest in research and development to ensure a quality offering and establish itself as an authoritative reality in its target market."

"In this sense, the decision to approve a free capital increase is an act of gratitude to all our shareholders who have placed complete trust in our group and our business," he said.

"Indeed, through this transaction, we intend to further improve our capital structure and provide a solid foundation to meet future challenges and seize growth opportunities in the market by offering the opportunity for our shareholders to increase their stake in the company without necessarily having to invest in additional financial resources."

Nusco's stock gives up 1.9 percent to EUR1.03 per share.

By Chiara Bruschi, Alliance News reporter

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