(Alliance News) - Acinque Spa reported Wednesday that in the fiscal year ended Dec. 31, 2022, it reported a profit of EUR30.8 million from EUR44.5 million in the same period of the previous year and marking a decline of 31 percent.

The company's board of directors proposed a dividend of EUR0.085 from EUR0.095 per share, in line with the dynamics of net income.

Ebitda amounted to EUR100.3 million from EUR89.5 million as of December 31, 2021, up 12 percent.

Ebit stood at EUR37.3 million from EUR31.8 million and up 17 percent from the same period last year.

Capital expenditures amounted to EUR69.4 million from EUR79.9 million in 2021.

The total amount of consolidated sales revenues in FY2022 was EUR710.2 million, an important increase compared to FY2021 when they were EUR469.2 million mainly due to the extraordinary rise in energy carrier prices related to the particular environment in the markets in FY2022.

Looking to the future, "The first months of fiscal year 2023 continue to be marked by geopolitical uncertainties arising from the conflict between Russia and Ukraine, which seems, at present, still difficult to resolve, fueling the risk that these tensions could spread on a global scale with consequent impacts on all markets that are still experiencing scenarios of high prices and high volatility albeit declining in the first months 2023 - with high levels of inflation and continuous maneuvers by various governments, both of a restrictive financial side and of contextual support to the economy and those most affected by the context," the company explained in a note.

"On the Covid-19 front, on the other hand, the situation seems to be clearly improving, with a gradual return to normal conditions. In this context, the group thanks to the diversification of its activities, largely consisting of essential services for the population and the fact that some of them are regulated - and therefore potentially not subject to volatility or at least very low volatility - will be able to mitigate many of the possible impacts of the conflict, also benefiting from the resilience and management capacity gained over the years by overcoming each critical moment."

Acinque trades in the red by 4.8 percent at EUR2.00 per share.

By Claudia Cavaliere, Alliance News reporter

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