(Alliance News) - Mare Engineering Group Spa reported Wednesday that it reported a net profit of EUR2.4 million as of Dec. 31 from EUR3.7 million in 2022.

Production value amounted to EUR39.4 million in 2023 from EUR35.3 million as of Dec. 31, 2022.

Ebitda in the period is EUR10.0 million from EUR9.4 million in 2022.

Net financial position is EUR25.6 million from EUR20.8 million as of December 31, 2022.

The company announced that it has proposed a dividend of EUR0.01 per share amounting to EUR120,500.00.

Antonio Maria Zinno, CEO of Mare Group, commented, "The 2023 financial results reflect the soundness of our strategy and the effectiveness of our operations. These results, which show the stability of our growth, are the result of the tireless work of our team and the support of our shareholders. Over the past year, we have further consolidated our market position through significant acquisitions and the enhancement of our technological and operational capabilities."

"In 2023, we worked on the development of the Sypla Rail platform and the application of XR technologies in new areas, while achieving significant growth in providing products and services to SMEs."

On Wednesday, Mare Group closed 5.2 percent in the red at EUR4.75 per share.

By Claudia Cavaliere, Alliance News reporter

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