(Alliance News) - The board of directors of Fope Spa on Friday approved the draft financial statements for the year ending Dec. 31, 2023, closing with a net profit of EUR10.1 million, down from EUR10.8 million in 2022. The board proposed a gross dividend of EUR0.85 per share, up from EUR0.80 a year earlier.

"Consolidated net income in 2022 enjoyed special tax benefits, with a EUR1.25 million reduction in computed taxes," the company specifies.

Net revenues amounted to EUR66.8 million, up 7.4 percent from EUR62.2 million in 2022. Growth was recorded both in international markets and in the Italian market, which stood out for its excellent sales performance, generated both by the Venice boutique and in general by our dealers, and favored by the good presence of foreign tourists in Italy.

Ebitda stood at EUR17.0 million compared to EUR15.8 million in 2022. Ebitda margin standing at 25.4 percent despite the increase compared to FY2022 in expenses incurred for marketing and communication activities.

Ebit is EUR14.7 million, an improvement from EUR13.9 million in 2022. Ebit margin stands at 22 percent compared to 22.4 percent in FY2022 due to the increase in the amortization rate of technology and business investments.

NFP is zero compared to the positive cash position of EUR1.5 million as of Dec. 31, 2022.

Shareholders' equity is EUR40.0 million, compared to EUR33.6 million as of Dec. 31, 2022.

Fope on Friday trades in the green by 2.0 percent at EUR30.00 per share.

By Maurizio Carta, Alliance News reporter

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