(Alliance News) - Deodato.Gallery Spa on Wednesday approved its draft annual financial statements and consolidated financial statements as of Dec. 31, 2022, reporting a profit of EUR1.1 million, up 21 percent from EUR900,000 in 2021.

Value of production amounts to EUR9.5 million, up 33 percent from the December 31, 2021 figure of EUR7.1 million.

Ebitda amounts to EUR1.9 million up 29% from the figure as of December 31, 2022 when it was EUR1.5 million.

Ebit is EUR1.7 million up 24% from the EUR1.3 million recorded as of December 31, 2021.

Net financial debt is EUR900,000 compared to EUR300,000 as of Dec. 31, 2021.

By April 2023, the company explains, an additional location will be announced next and two others are being finalized for a hoped-for opening by June 2023.

As for the future, the company points out that more direct locations are in the process of opening, while the web analytics numbers are all growing strongly. "The average receipt grew by 25 percent during 2022 and similar growth can be expected in 2023. The number of transactions is also increasing. It should be noted that the results for the first months of 2023 give signs of a positive outlook, dictated by the increase in sales turnover volumes, and therefore, growth margins at the consolidated level are also expected for the current fiscal year."

Deodato.Gallery's stock on Wednesday closed 2.3 percent in the red at EUR0.92 per share.

By Chiara Bruschi, Alliance News reporter

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