(Alliance News) - Rai Way Spa ended 2023 with a consolidated profit of EUR14.6 million, up 25 percent from EUR11.6 million in 2022, the company reported Thursday.

Production value amounted to EUR132.3 million from EUR110.5 million in the previous year. The order backlog as of December 31, 2023 is EUR818 million and will take effect over the next five fiscal years, the company explained in a note.

Ebitda is EUR26.4 million from EUR19.6 million a year earlier.

Ebit is EUR22.2 million from EUR17.9 million recorded as of Dec. 31, 2022.

Net financial debt is EUR34.6 million, up from EUR3.6 million in the previous year, due to the acquisition of 70 percent of Gema, EUR16 million of which was through own resources and the remainder through borrowing from banks.

Rai Way's stock closed up 0.2 percent at EUR5.19 per share.

By Chiara Bruschi, Alliance News reporter

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