(Alliance News) - Laboratorio Farmaceutico Erfo Spa on Friday reported that consolidated revenues as of Dec. 31 amounted to EUR6.2 million, up 23 percent from EUR5.0 million in 2022.

As of Dec. 31, adjusted Ebitda generated by the company was about EUR1.6 million, accounting for 26 percent of revenues and down 11 percent from 2022.

The Adjusted Net Financial Position is cash positive and about EUR1.3 million, an improvement from December 31, 2022 when it was about EUR1 million respectively.

Alessandro Cutè, president and CEO of Erfo, commented, "2023 was a year marked by structural evolutions that put us in a new dimension compared to the past and confront us with the new challenges ahead. Total revenues-even without considering the consolidation of Erfo France acquired in January-are the highest ever. We now represent a vertically integrated group operating at full capacity in Italy, France and Belgium with two distinctive brands, Diètnatural and BodySano, with important signs of growth in the Medical line through products for pharmacies and healthcare facilities."

"The year 2024 begins under the banner of Diètnatural's international development thanks to the first franchise opening in Belgium that took place in January and the strengthening of R&D activities, with the launch of new challenging projects that will begin in the coming months, in which some of the most important Italian scientific partners are involved that will allow us to position ourselves in the market with highly innovative products."

On Friday, Laboratorio Farmaceutico Erfo closed in the green by 15 percent at EUR1.15 per share.

By Claudia Cavaliere, Alliance News reporter

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