(Alliance News) - Bellini Nautica Spa reported Thursday that the board approved the draft financial statements, which closed with a net profit as of Dec. 31 of EUR241,000, compared with the year ended Dec. 31, 2022, for which a net profit of EUR674,000 was reported.

Sales revenue as of December 31, 2023 was EUR11.1 million compared to the figure reported as of December 31, 2022, of EUR12.1 million.

Consolidated production value as of December 31, 2023 is EUR14.6 million. "Changes in inventories of consolidated work-in-progress, semi-finished and finished goods as of Dec. 31 amounted to EUR2.4 million," the company note reads.

Ebitda was EUR775,000, compared to the figure for the year ended Dec. 31, 2022, of EUR1.9 million. "The reduction in margins is mainly due to a contraction in turnover compared to the previous year, accompanied by the concomitant general increase in operating costs," the released note reads.

Ebit was EUR371,000 compared to the figure for the year ended Dec. 31, 2022 of EUR1.2 million.

Net financial debt as of Dec. 31, 2023 was EUR3.5 million compared to EUR2.2 million at the end of 2022.

Bellini Nautica closed the session 4.4 percent in the red at EUR1.72 per share.

By Maurizio Carta, Alliance News reporter

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