(Alliance News) - The board of directors of Farmaè Spa on Tuesday approved the financial report for 2022, which closed with a loss of EUR900,000 compared to a loss of EUR100,000 in 2021.

Consolidated adjusted 2022 revenues amounted to EUR120.9 million, while consolidated unadjusted revenues amounted to EUR116.3 million, up 41 percent on the previous year and up 41 percent from the EUR85.9 million recorded as of December 31, 2021

Ebitda was EUR2.2 million, up 7% on the previous year.

Adjusted Ebitda - to take into account costs related to the integration of Amicafarmacia post-acquisition, revamping of sites, nonrecurring costs for acquisition activities and other nonrecurring activities totaling EUR400,000 - was EUR2.5 million compared to EUR2.7 million in 2021.

FY2022 Ebit closes at a break-even at minus 38,000 compared to EUR307,000 in FY2021, after depreciation and amortization of EUR2.2 million from EUR1.7 million in FY2021.

The group's net financial debt was EUR21.3 million compared to EUR14.1 million as of Dec. 31, 2021 and EUR19.7 million as of June 30, 2022.

The company has also set targets that include adjusted revenues of between EUR220 and EUR230 million as of 2025, with CAGR 2022-2025 of 23 percent; adjusted Ebitda of between EUR13-14 million and margin of about 6 percent; and net financial debt of between EUR11 and EUR10 million.

Lastly, a Capex 2023/2025 of EUR20 million is planned.

Farmaé on Tuesday trades in the green by 1.3 percent at EUR11.14 per share.

By Maurizio Carta, Alliance News reporter

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