(Alliance News) - The board of directors of Sicily by Car Spa on Friday approved the draft financial statements for the year and the consolidated financial statements as of December 31, 2023, which closed with a net profit of EUR17.5 million, down from EUR39.9 million in 2022. The board proposed an ex-dividend of EUR0.25 per share.

Value of production stands at EUR136.3 million compared to EUR160.9 million in the previous year.

Ebitda amounted to EUR47.1 million, corresponding to a margin of 35 percent, a change from 2022 when it was EUR68.6 million and equal to 43 percent.

Ebit is EUR26.4 million, corresponding to an Ebit margin of 19 percent, while in 2022 it was EUR57.7 million, or 36 percent, "after depreciation and amortization increased due to the higher incidence of vehicles under full ownership," the released note said.

The net financial position is cash positive by EUR25.0 million, an improvement from December 31, 2022 when it was negative by EUR10.1 million.

Sicily by Car closed Friday's session in the green by 2.3 percent at EUR4.90 per share.

By Maurizio Carta, Alliance News reporter

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