(Alliance News) - The Board of Directors of Lucisano Media Group on Wednesday approved the consolidated financial statements as of December 31, 2023, which closed with a profit of EUR5.1 million from EUR3.1 million in 2022. The board then proposed to distribute a unit dividend of EUR0.04 per share to shareholders as in the previous year.

Consolidated operating income and revenues amounted to EUR61.3 million, up from EUR46.1 million in the previous year, "due to significant growth in all of the Group's Business Units," the released note said.

EBITDA is EUR26.7 million from EUR21.7 million in the previous year and corresponding to 43 percent of revenues.

Ebit is EUR8.0 million from EUR4.7 million in 2022.

Net financial debt - including the component related to leased assets - was EUR35.3 million from EUR38.9 million as of December 31, 2022.

"This improvement, despite the higher volumes of audiovisual production and the consequent use of self-liquidating financing lines, is consequent to the completion of the billing and collection cycles of the works created in previous years, as well as the recovery and monetization of tax credits temporarily frozen by the Inland Revenue," the company wrote in the released note.

Lucisano Media Group on Wednesday trades in the green by 5.7 percent at EUR1.29 per share.

By Maurizio Carta, Alliance News reporter

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