(Alliance News) - The Iniziative Bresciane Spa group reported Monday that it recorded total consolidated revenues of about EUR18.0 million, down 23 percent from EUR23.4 million in fiscal year 2021.

This decrease was due to the performance of energy production, which was negatively affected by the anomalous weather situation, only partially mitigated by the positive trend in energy prices.

EBITDA was EUR11.3 million and down 30 percent from EUR16.1 million in 2021, accounting for about 62 percent of total revenues. Total depreciation, amortization and provisions are EUR9.3 million, up 13 percent from FY2021, when they were EUR8.2 million.

Earnings before taxes are negative EUR900,000 from EUR6.1 million as of Dec. 31, 2021, with the financial component increasing to EUR2.9 million from EUR1.9 million.

Net income is EUR200,000 from EUR3.9 million as of Dec. 31, 2021 after allocating depreciation and amortization of EUR9.3 million and tax assets of EUR1.1 million.

Net financial debt, at approximately EUR103.9 million compared to EUR87.4 million as of December 31, 2021, shows an increase of approximately EUR16.5 million or 19% due to the combined effect of a decrease in cash and cash equivalents of approximately EUR7.3 million, an increase in current financial debt of approximately EUR10.7 million, and a decrease in noncurrent financial debt of approximately EUR1.5 million. Compared to June 30, 2022, net financial debt increased by about EUR7.9 million, to EUR103.9 million from EUR96.0 million.

The board proposed the distribution of a dividend of EUR0.16 per share from last year's dividend of EUR0.80.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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