Financial Results

9M 2023 Consolidated Results (Consolidated Income Statement Data)

(Thousands of euro)9M 20239M 2022
Gross profit
% on sales
Operating result
% on sales
% on sales
Results before taxes
% on sales
Results from discounted operations
% on sales
Group net income (loss)
% on sales

Consolidated Balance Sheet Data

(Thousands of euro)September 30, 2023 December 31, 2022

Group shareholders’ equity199,837264,053
Net financial position(20,772)64,291

Approved the quarterly results, which only partly have incorporated the effects of the nitinol business sale transaction, given its completion on october 2nd (particularly, the effects on the nfp and the capital gain will only be reflected in q4)

3Q 2023 revenue in strong recovery compared to previous quarters, thanks in particular to excellent high vacuum and industrial smas sales

Nine months consolidated result affected by lower sales in the first part of the year and by an improvement of the structure, necessary to support future growth

  • Consolidated revenue equal to €33 million, in line with €33.8 million in 3Q 2022, but penalized by the negative exchange rate effect (organic growth equal to +1.7%)
  • Consolidated gross profit equal to €12.2 million (36.9% of consolidated revenue) in 3Q 2023, compared to €13.4 million (39.7% of consolidated revenue) in 3Q 2022, again penalized by the exchange rate effect
  • Consolidated EBITDA at break-even (+€1.7 million in 3Q 2022), compared to a consolidated operating result of -€2.5 million (-€0.9 million in 3Q 2022)
  • Result from continuing operations equal to -€2.4 million in 3Q 2023, compared to a negative value of -€4.1 million in 3Q 2022
  • Result from operating activities held for sale equal to -€10.5 million in 3Q 2023 (profit of the Nitinol business equal to +€9.3 million and charges for future disposal equal to -€19.8 million)
  • Consolidated result equal to -€12.9 million in 3Q 2023 (+€3.8 million in 3Q 2022) penalized by the extraordinary charges related to the sale of the Nitinol business, equal to -€19.8 million
  • Net financial position negative for -€20.8 million as at September 30, 2023, but at breakeven considering the net financial assets of the two US companies held for sale