(Alliance News) - Orsero Spa reported Wednesday that it ended 2023 with an adjusted net profit of EUR54.0 million, up 46 percent from EUR36.9 million as of Dec. 31, 2022.

The company proposed to pay a dividend of EUR0.60 per share from EUR0.35 in 2022.

Net revenues in the period stood at EUR1.54 billion from EUR1.20 billion in 2022, up 29 percent.

Adjusted Ebitda was EUR107.1 million as of December 31 from EUR76.1 million in 2022 and up 41 percent. Ebitda margin was 7.0 percent from 6.4 percent in the previous year.

Adjusted Ebit amounted to EUR72.8 million from EUR45.7 million in 2022.

Net financial position is EUR127.8 million as of Dec. 31 compared to EUR67.4 million as of Dec. 31, 2022.

Raffaella Orsero, CEO of Orsero, commented, "The group ended fiscal year 2023 by achieving very significant results, allowing us to fully hit the Financial Guidance forecasts revised upward during the year, thanks to the brilliant performance of the core business that saw the distribution business generate excellent results throughout the year and the shipping division move toward a gradual normalization with respect to 2022 and the first part of 2023."

"The Distribution BU has benefited significantly from the contribution of the banana product, historically connoted as a commodity, and which has experienced a very favorable market environment, as well as from the acquisitions in France of CAPEXO and Blampin and from strategic decisions that see the expansion of the product portfolio with high added value and better profitability."

"This strategy has enabled us to achieve a group size, which we want to maintain as a basis for growth in the years to come. Last but not least, also in terms of ESG Guidance, the group has met and exceeded the metrics set for 2023, constituting further progress in the execution of the strategic sustainability plan."

On Wednesday, Orsero closed in the green by 1.5 percent at EUR14.96 per share.

By Claudia Cavaliere, Alliance News reporter

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