(Alliance News) - DBA Group Spa on Thursday approved its fiscal year 2022 results reporting a value of production of EUR85.4 million up from EUR79.5 million in 2021

Net income is EUR616,977, an improvement from a loss of EUR719,505 in 2021.

Reported Ebitda 2022 is EUR7.2 million up 50 percent from EUR4.8 million in 2021, adjusted Ebitda is EUR7.5 million up 2.3 percent from EUR7.3 million in 2021, net of extraordinary costs incurred in the Actual Group divestment transaction, which was not finalized due to the failure of the Slovenian Antitrust Authority to issue a ruling, and for extraordinary restructuring costs incurred in C.&G. Engineering Service Srl following the acquisition last August. Net of nonrecurring costs, the relative marginality for 2022 is 8.8 percent, substantially in line with that recorded in 2021 of 9.2 percent.

Ebit was positive and amounted to EUR3.4 million from EUR400,000 in 2021 with an increase of EUR3.0 million due to improved operating margin of Engineering and Projec Management services. Ebit includes EUR1.3 million of goodwill impairment recorded as a result of the acquisition of the 75 percent-owned subsidiary SJS Engineering srl in 2018, the company explained in a note.

The negative Net Financial Position is EUR12.6 million, worsening from EUR10.3 million in 2021 mainly due to the assobiption of the advance received in 2021 in connection with the Serbian Ministry of Justice order for the design and implementation of a centralized file management system for the local Judiciary.

DBA Group's stock is in the green by 3.0 percent at EUR1.55 per share.

By Chiara Bruschi, Alliance News reporter

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