Financial Results

1Q 2023 Consolidated Income Statement Data

(Thousands of euro)1Q 20231Q 2022
Total net sales60,15859,156
Gross profit
% on sales
26,633
44.3%
25,891
43.8%
Operating income
% on sales
6,981
11.6%
10,061
17.0%
EBITDA
% on sales
10,865
18.1%
13,655
23.1%
Income before taxes
% on sales
8,417
14.0%
4,127
7.0%
Group net income
% on sales
5,166
8.6%
1,730
2.9%

1Q 2023 Consolidated Balance Sheet Data

(Thousands of euro)March 31, 2023December 31, 2022
Group shareholders’ equity266,291264,053
Net financial position63,99864,291

Growing revenue and excellent results, thanks to the good performance of the SMA industrial and medical sectors.

Strong increase in the profit of the period thanks also to the turnaround in the securities management result.

  • Quarterly consolidated revenue equal to €60.2 million, up by 1.7% compared to €59.2 million in 1Q 2022 favored by the positive exchange rate effect
  • Consolidated gross profit equal to €26.6 million, up if compared to €25.9 million in 1Q 2022
  • Gross profit margin increased from 43.8% to 44.3%
  • Consolidated operating profit equal to €7 million (€10.1 million in 1Q 2022), consolidated EBITDA equal to€10.9 million (€13.7 million in 1Q 2022), penalized by non-recurring G&A expenses of about €2.1 million
  • Consolidated profit equal to €5.2 million, almost tripled compared to €1.7 million in 1Q 2022
  • Positive consolidated net financial position of €64 million as at March 31, 2023, in line with December 31, 2022