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Financial results

3Q 2022 consolidated results

Consolidated Income Statement Data
(Thousands of euro)

9M 2022

9M 2021
Total net sales 187,336 137,140
Gross profit 81,884 57,879
% on sales 44.7% 42.2%
Operating income 30,381 16,813
% on sales 16.2% 12.3%
EBITDA 41,365 25,504
% on sales 22.1% 18.6%
Income before taxes 12,785 17,818
% on sales 6.8% 13%
Group net income 3.594 10.383
% on sales 1.9% 7.6%
 
Consolidated Balance Sheet Data
(Thousands of euro) September 30, 2022 December 31, 2021
Group shareholders' equity 269,077 253,520
Net financial position 53,076 74,801
STRONG SEQUENTIAL GROWTH IN REVENUES IN THE THREE QUARTERS OF 2022, THANKS TO BOTH THE INCREASE 
IN VOLUMES AND THE FAVORABLE EFFECT OF THE DOLLAR 
 
ORGANIC GROWTH OF 15% IN 3Q 2022 COMPARED TO 3Q 2021, MAINLY DRIVEN BY THE HIGH VACUUM AND THE
MEDICAL NITINOL DIVISIONS
 
EXCELLENT INDUSTRIAL PERFORMANCE, BUT CONSOLIDATED INCOME PENALIZED BY EXTRAORDINARY OPERATING
EXPENSES AND BY THE REDUCTION IN THE VALUE OF THE SECURITIES IN PORTFOLIO FOLLOWING THE INCREASE IN INTEREST RATES 
  • Quarterly consolidated revenues equal to €67.1 million, up by 30.9% compared to €51.3 million in 3Q 2021
  • Consolidated gross profit equal to €28.6 million (42.7% of consolidated revenues) in 3Q 2022, compared to €22.5 million (43.9% of consolidated revenues) in 3Q 2021
  • Consolidated operating income equal to €10.1 million (€9.3 million in 3Q 2021) and consolidated EBITDA equal to €14 million in 3Q 2022 (€12.3 million in 3Q 2021), penalized by extraordinary operating expenses
    of about €3.5 million
  • Consolidated income equal to €3.9 million in 3Q 2022 compared to €6.2 million in 3Q 2021, but the comparison is not significant due to the heavily penalizing effect of the increase in interest rates on the fair value of the securities portfolio as at September 30, 2022
  • Consolidated net financial position positive and stable, equal to €53.1 million as at September 30, 2022
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