Eles closes 2022 with revenues and Ebitda up but profit drops

(Alliance News) - Eles Semiconductors Spa reported that net income for 2022 was EUR653,000, down from the previous year's net income of EUR854,000.

Sales revenues for the period taking into account the recent acquisition of CBL Electronics Srl and its investee from October 2022 and Campera ES Srl from January 2022 were EUR26.1 million from EUR19.0 million as of December 31, 2021, an overall increase of 37 percent.

Like-for-like revenues amounted to EUR21.9 million, up 15 percent from the previous year, "confirming the effectiveness of the actions put in place to deal with the component shortage that characterized a good part of 2022 and the contribution of revenues related to two new platforms launched on the market," the company explained.

Ebitda amounted to EUR3.5 million, up 11 percent from EUR3.2 million in 2021, and represented 13.5 percent of sales revenue, down from the previous period when the margin was 16.6 percent, due to the reduction in margins as a result of the component shortage that led to an increase in material costs and due to inflation that affected logistics, raw materials and service costs.

In addition, two promising new platforms, ART-MTX and smART MTX, were introduced to the market in 2022, which, being in the early stage of their industrialization process, contributed to the group margin at a value far below their potential since the production process is not yet fully optimized.

Operating income amounted to EUR1.2 million from EUR1.1 million as of December 31, 2021, after incurring depreciation, amortization and provisions of EUR2.3 million.

The company's net financial debt goes from a debit balance of EUR3.2 million as of December 31, 2021, to a credit balance of EUR7.9 million, of which EUR6.2 million is attributable to the subsidiaries included in the scope of consolidation as of 2022; liquidity is EUR11.2 million.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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