(Alliance News) - Acinque Spa on Friday reported that it ended 2023 with a profit of EUR10.7 million, down from EUR20.8 million from Dec. 31, 2022.

The company proposed a dividend of EUR0.085 per share, unchanged from 2022.

Sales revenues for the period stood at EUR650.3 million, down from 2022 when they amounted to EUR708.6 million.

The overall decline in revenues is attributable to lower volumes of gas, electricity and heat sold related to the extraordinarily mild weather that marked FY2023 and the strong focus on consumption by customers, also related to government interventions in late 2022 on energy savings, and the significantly declining trend in the energy scenario, the company explained in a note.

Ebitda is worth EUR92.0 million from EUR98.8 million as of Dec. 31, 2022.

Ebit stood at EUR28.0 million, down from EUR37.3 million in 2022.

Group capital expenditure in 2023, before divestments, is EUR65.3 million from EUR69.4 million in 2022.

As of Dec. 31, net debt was EUR257.9 million up from EUR241.5 million as of Dec. 31, 2022.

Looking ahead, the company expects to maintain positive results for 2024 as well, albeit down from 2023, due to the reduction of temporary business opportunities.

On Friday, Acinque closed 1.5 percent in the red at EUR1.99 per share.

By Claudia Cavaliere, Alliance News reporter

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