(Alliance News) - Riba Mundo Tecnologia SA reported Tuesday that it ended 2023 with revenues of EUR434 million, up 32 percent from EUR329 million in 2022.

Orders increased by about 83 percent year-on-year, from 30,205 in 2022 to 55,228 in 2023, and the number of units sold rose by about 97 percent, from 2.1 units in 2022 to 4.2 units at the close of fiscal 2023. The company also pointed out that sales increased in product categories other than the core business, confirming the positive diversification strategies adopted by management.

Marco Dezi, CEO of Riba Mundo Tecnologia, said, "FY2023 shows revenues increasing to EUR434 million, confirming the growth trend in place since the early years of the Riba Mundo Tecnologia project. The 32 percent growth confirms the success of our business model, especially given the macro environment and the performance of our competitors. The results, in line with the company's expectations, also demonstrate the correct positioning with respect to "core" product categories and validate our strategic decision to diversify the product portfolio."

"In particular, the 83 percent growth in orders indicates that our loyal customers continue to come to Riba Mundo from all over the World and even from those remote places where average orders are smaller; finally, the 97 percent growth in units sold indicates that Riba Mundo is successfully applying its product category diversification strategy focused on the entire accessories ecosystem."

Riba Mundo Tecnologia's stock closed Tuesday up 4.4 percent at EUR19.00 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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