(Alliance News) - De' Longhi Spa reported Tuesday that it ended 2023 with revenues down to EUR3.08 billion from EUR3.16 billion.

In the fourth quarter alone, however, revenues increased year-on-year to EUR1.08 billion from EUR1.03 billion in the same period a year earlier.

Sales in Europe rose 1.7 percent in the full year to EUR1.91 billion; in MEIA they fell 11 percent to EUR174.4 million; in the Americas they fell 12 percent to EUR547.0 million; and in Asia-Pacific they fell 3.6 percent to EUR447.4 million.

Net industrial margin rose to EUR1.50 billion from EUR1.49 billion in the year and to EUR518.1 million from EUR477.8 million in the fourth quarter alone.

Ebitda rose to EUR437.8 million from EUR369.4 million in the year and to EUR176.9 million from EUR151.6 million in the quarter while the adjusted figure improved to EUR444.2 million in 2023 from EUR362.0 million in 2022 and to EUR179.1 million in the quarter from EUR150.0 million in the last quarter of 2022.

Operating income grew to EUR329.6 million from EUR263.5 million in the full year and to EUR146.8 million from EUR122.4 million in the fourth quarter alone.

Same trend for net income, up 41 percent year-on-year to EUR250.4 million from EUR177.4 million in 2023 and to EUR108.2 million from EUR78.0 million in the fourth quarter.

De' Longhi's board proposed to shareholders the distribution of a dividend of EUR0.67 from EUR0.48 paid last year.

De' Longhi's stock is up 1.5 percent at EUR30.80 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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