(Alliance News) - Emak Spa announced Thursday that it closed 2023 with a profit down to EUR19.9 million from EUR31.2 million as of Dec. 31, 2022.

The company said it had proposed a dividend of EUR0.045 per share from EUR0.065 in 2022.

Revenues stood at EUR605.7 million from EUR566.3 million in 2022.

Adjusted Ebitda amounted to EUR67.9 million as of December 31 from EUR76.6 million in 2022.

Ebit in 2023 is EUR37.2 million from EUR46.8 million in the previous year.

Net financial position liabilities are EUR191.5 million from EUR177.3 million as of Dec. 31, 2022.

Looking to the future, "although 2024 will also be a challenging year, the outlook is still positive, thanks to the potential organic development resulting from the group's solid market positioning and the contribution that the acquisitions concluded in the last twelve months will provide," the company explained in a note.

Emak trades in the green by 0.8 percent at EUR0.98 per share.

By Claudia Cavaliere, Alliance News reporter

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