(Alliance News) - Defence Tech Holding Spa reported Friday that it ended 2023 with a net profit of EUR3.4 million versus EUR4.2 million, with higher taxes and financial charges weighing on net income.

Revenues rose to EUR21.3 million from EUR19.5 million. In particular, the increase in revenues included both the Electronics business line, with revenues of EUR3.0 million and 14 percent of the total and a double-digit growth of 76 percent compared to EUR1.7 million in 2022, and the Communication & Control System business line, with revenues of EUR12 million and equal to 55 percent of the total compared to EUR11 million in 2022, with a positive performance of 9 percent. The Cyber Security & Technology For Intelligence business line has revenues of EUR6.8 million, basically in line with the previous year.

Value of production is approximately EUR30.2 million, up 12 percent from 2022, when it was EUR27.1 million.

Adjusted Ebitda improved to EUR9.0 million from EUR8.1 million, with a margin of 40.4 percent from 36.5 percent a year earlier, while adjusted operating income rose to ERU6.4 million from EUR5.9 million, with a margin of 28.7 percent from 26.9 percent a year earlier.

Net financial position showed cash of EUR100,000 versus NFP of EUR5.8 million a year earlier, in line with the investment plan that saw the company shell out EUR8.9 million.

Defence Tech Holding's stock closed Friday down 0.5 percent at EUR4.46 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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