(Alliance News) - Fervi Spa announced Wednesday that it has approved its main results as of Dec. 31, 2022, having reported a consolidated net profit of EUR3.6 million, up more than 13 percent from EUR3.1 million in the same period last year.

The company posed a dividend of EUR0.40 per share from EUR0.35 in 2021.

Consolidated sales revenues are up in 2022 to EUR57.3 million from EUR38.0 million and up 51 percent from 2021.

The company notes that the increase comes mainly from the newly acquired Rivit Srl, which as of December 31, 2021 was contributing for only 3 months from the date of acquisition to September 2021.

Consolidated Ebitda is EUR8.3 million compared to EUR5.2 million in 2021, while M&A cost adjusted Ebitda is EUR8.4 million from EUR5.5 million in 2021 and up 51 percent.

Net financial position is negative EUR11.1 million from negative EUR11.2 million as of Dec. 31, 2021.

For the future, "Although in the context of uncertainty, the group will continue its growth strategy focused, among other things, on the constant commitment to the 'expansion of the offer of catalog products and customer support, on the maximization of profitability, including through a careful policy of cost control, while maintaining the equity and financial solidity that distinguishes the companies of the group," the company speigato in a note.

Fervi trades in the green by 4.8 percent at EUR16.40 per share.

By Claudia Cavaliere, Alliance News reporter

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