(Alliance News) - Grifal Spa reported Monday that it closed 2023 with a net profit of EUR887,217 compared to the 2022 figure of EUR432,047.

Revenues increased to EUR37.8 million from EUR36.9 million in the previous year, with the value of production rising to EUR42.0 million from EUR41.4 million in 2022. cArtù drove the company's revenue, with sales rising to EUR12.8 million from EUR12.2 million, accounting for 34 percent of revenues.

Ebitda rose to EUR5.6 million from EUR4.4 million while operating income increased to EUR2.2 million from EUR1.3 million.

Net financial position as of Dec. 31, 2023 shows net debt of EUR18.5 million, improved by EUR2.3 million from June 30, 2023 after making investments in the second half of the year of about EUR4.7 million. The improvement in NFP, combined with the concomitant increase in margins, enabled the further reduction of the NFP/Ebitda ratio to 3.3 times from 4.1 times as of June 30 and 4.3 times as of Dec. 31, 2022.

Also significant was the composition of net financial debt, which is characterized by the almost absolute prevalence of the medium- to long-term component over the short-term one - 98 percent from 2 percent -, thanks in part to the new loans taken out during the year, including the bond issued in December.

Grifal's stock closed Monday up 2.0 percent to EUR2.04 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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