(Alliance News) - Omer Spa reported Wednesday that it closed 2023 with a profit in line with the previous year and amounting to EUR8.4 million from EUR8.3 million in 2022, due to an increase in financial charges of EUR700,000 related to factoring operations connected to customer receivables, resulting from higher interest rates.

The proposed dividend is EUR0.06 per share, up from EUR0.05 a year earlier.

Revenues for 2023 amounted to EUR67.3 million up about 6.0 percent from EUR63.3 million in 2022. This increase was driven by both higher production volumes and higher sales prices as a result of the implementation of price revision clauses included in some contracts.

Ebitda increased to EUR15.1 million from EUR13.8 million, an improvement of 10 percent.

Ebit was EUR12.1 million, up about 7.0% from EUR11.3 million in 2022.

Consolidated Net Financial Position was positive at approximately EUR19.8 million, up from EUR9.6 million as of December 31, 2022. This is significantly higher than the 2022 figure due to strong cash generation from operating activities, the note said.

The backlog is EUR125 million, an increase of about 8 percent over the 2022 figure of EUR116 million. The soft backlog is about EUR243 million, down slightly from the 2022 figure of EUR250 million due to backlog conversions recorded during the year.

Omer closed Wednesday up 9.0 percent to EUR3.38 per share.

By Chiara Bruschi, Alliance News reporter

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