(Alliance News) - Doxee Spa reported that net income for 2022 fell to EUR1.2 million from EUR1.8 million.

Ebitda fell to EUR4.9 million from EUR5.5 million--due to indirect and R&D costs incurred during the year of EUR11.0 million from EUR7.8 million in 2021--while Ebit increased to EUR1.8 million from EUR1.9 million. Pre-tax profit stood at EUR1.6 million from EUR2.0 million in 2021.

Revenues amounted to EUR25.5 million, up 22 percent from EUR20.8 million in 2021. The positive revenue trend confirms the validity of Doxee's development path and its correct positioning. In particular, the product lines that contributed the most to the revenue performance were document experience, with revenues reaching EUR15.6 million compared to EUR13.1 million in 2021, and interactive experience with revenues of EUR4.3 million from EUR3.6 million in 2021. The paperless experience line saw an increase in revenues to EUR5.6 million from the previous year's figure of EUR4.1 million.

Recurring revenues, thanks in part to the increase in activities delivered in SaaS mode, stood at about 72 percent of total revenues. Value of production is EUR28.7 million from EUR23.6 million in 2021, and contribution margin stands at EUR16.0 million compared to EUR13.2 million in 2021.

Doxee Group's net financial debt was approximately EUR14.4 million from EUR3.3 million as of December 31, 2021, including cash and cash equivalents of EUR2.6 million. Among noncurrent bank debt, totaling EUR11.7 million, EUR9 million consists of medium- to long-term liabilities, with maturities between six and eight years, at floating rates with interest rate risk hedging.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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