(Alliance News) - Emak Spa announced Friday that it has reported consolidated revenues for fiscal year 2022 of EUR606.6 million from EUR588.3 million in the same period of 2021, marking a growth of 3.1 percent.

"The year 2022 was an exceptional year for the group, having reached its highest revenue level. This was despite an unfavorable external scenario that led to a slowdown in sales starting in the third quarter. The beginning of 2023 continues to be negatively impacted by the uncertain global environment," the company explained in a note.

"Consequently, the group's expectations for the first part of the fiscal year are to achieve sales at higher levels than in recent history, while not replicating the record first quarter of 2022. The group has implemented the appropriate management actions in order to cope with the situation, continuing initiatives aimed at strengthening its competitive positioning and maintaining a high focus on possible growth opportunities by external lines."

Emak trades in the red by 2.3 percent at EUR1.29 per share.

By Claudia Cavaliere, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.