(Alliance News) - LU-VE Spa reported on Wednesday its results for fiscal year 2023, which closed with a profit of EUR31.4 million down from EUR49.1 million in the previous year. Adjusted profit amounted to EUR37.0 million from EUR35.2 million in 2022.

The board of directors resolved to propose to the shareholders' meeting a gross dividend of EUR0.40 per share, up from EUR0.38 proposed in 2023.

Revenues for 2023 are EUR617.3 million from EUR618.6 million in 2022.

Ebitda is EUR78.8 million from EUR75.1 million in 2022. Adjusted Ebitda is EUR80.1 million from EUR78.8 million in the previous year.

Ebitda, on the other hand, is EUR46.4 million from EUR42.1 million in 2022.

Net financial position as of December 31, 2023 is negative EUR126.3 million, an improvement of EUR15.9 million from the same date in 2022 and EUR41.3 million from September 30, 2023.

As of today's date, the company holds 28,027 ordinary treasury shares, equal to

0.1 percent of the share capital, and the BoD approved the proposed renewal of the buyback program for up to 2.2 million shares.

Matteo Liberali, president and CEO of LU-VE Group, said, " In a general context of various turbulences, 2024 looks like another year of consolidation of results, in terms of sales volumes, with a further increase in profitability and cash generation. Our business model is resilient, based on product differentiation, in sectors with uncorrelated trends that are supported by "secular trends."

LU-VE's stock trades in the green by 1.0 percent at EUR21.10 per share.

By Chiara Bruschi, Alliance News reporter

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