(Alliance News) - Intred Spa announced Monday that it closed fiscal year 2023 with a net profit of EUR8.2 million from EUR8.7 million in 2022, down slightly due to higher financial charges related to the company's increased borrowing to finance new investments on its proprietary network.

The board of directors will propose to the shareholders' meeting, the distribution of an ordinary dividend of EUR0.10 per share from EUR.07.

Annual revenues amount to EUR50.1 million from EUR45.5 million in 2022.

Ebitda for 2023 is EUR22.5 million from EUR19.9 million in 2022, up 14 percent, with the margin at 45 percent from 43 percent in the previous year.

Ebit increases to EUR12.7 million from EUR12.1 million in the previous year.

Net financial debt was EUR21.0 million compared to EUR11.5 million as of Dec. 31, 2022. "This trend is attributable to the significant investments in support of the Schools Call for Proposals, as evidenced by bank borrowings of EUR28.8 million compared to the value recorded as of December 31, 2022. Cash and cash equivalents amounted to EUR7.9 million compared to EUR17.6 million as of Dec. 31, 2022.

Intred's stock is up 3.3 percent to EUR9.96 per share.

By Chiara Bruschi, Alliance News reporter

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