(Alliance News) - Lemon Sistemi Spa reported that it ended 2023 with a net profit of EUR1.6 million, which compares with the 2022 figure of EUR2.6 million.

Sales revenues stood at EUR13.9 million, up about 23 percent from EUR11.3 million recorded in fiscal 2022. Sales revenues refer to the business areas photovoltaic systems and energy efficiency. Both business areas were affected by the Superbonus 110 scheme.

Ebitda stood at EUR2.8 million compared to EUR4.0 million as of December 31, 2022, with a margin of about 17.2 percent. The reduction is attributable, on the one hand, to the decrease in the Superbonus boost and, on the other hand, Lemon built a 3.2 MW plant in Settimo Torinese of which it acquired the contract thanks to an aggressive pricing policy, with the aim of expanding its offer for the development and installation of photovoltaic plants between 1 MWp and 10 MWp in size throughout Italy.

"This aggressive commercial policy has enabled Lemon Sistemi to enable itself in that market, allowing it to start new negotiations for larger size plants. In fact, an additional contract has been signed with a leading Sicilian operator active in the marble production sector for the design and construction of a 1MW photovoltaic plant," the company said.

Net financial debt was EUR1.6 million of debt, an improvement from EUR2.5 million of debt as of June 30, 2023. In particular, debt as of Dec. 31, 2023 benefits from the increase in cash attributable to the raising at the IPO as well as the collection of financial receivables sold to primary operators.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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