(Alliance News) - DBA Group Spa let it be known on Friday that the board of directors approved the budget for fiscal year 2024 and viewed the 2023 consolidated pre-consolidated figures.

Thus, DBA Group closed the preconsolidated fiscal year 2023 with a value of production of EUR109.8 million and adjusted Ebitda of EUR11.2 million.

The December 31 Net Financial Position - debt - is estimated at EUR14.6 million from EUR12.5 million in 2022.

The 2024 budget estimates a value of production of EUR116.1 million, an increase of EUR6.3 million compared to the 2023 preliminary figures entirely attributed to organic growth, the company explained in a note.

Expected Ebitda is EUR12.0 million, a 13 percent increase of EUR1.4 million compared to the 2023 pre-consensus figures, of which about EUR1.0 million is from volume growth and the remainder from improved margins.

Expected Net Financial Position - debt - is EUR11.3 million, an improvement of EUR3.4 million compared to the 2023 pre-consensus data, "due to the closure of the extraordinary credit line for the Serbian courts digitization project of the subsidiary Actual IT expected in the first quarter of 2024." The NFP/Ebitda ratio will fall from 1.4 to 0.9 as per the financial targets of the 23-26 business plan presented to the market in September.

The company said that the projected figures in the 2024 budget are consistent with the targets and guidelines presented in the business plan to 2026.

DBA Group trades in the green by 4.3 percent at EUR1.84 per share.

By Claudia Cavaliere, Alliance News reporter

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