PORTO AVIATION GROUP S.P.A. (Alliance News) - Porto Aviation Group Spa on Wednesday reported a net profit of EUR210,000 in 2023 from a loss of EUR446,000 as of Dec. 31, 2022.
Revenues in the period stood at EUR2.9 million from EUR2.4 million in the previous year and up 20 percent, while production value stood at EUR3.5 million from EUR2.4 million and up 48 percent on 2022.
Ebitda as of Dec. 31 stood at EUR602,000 up four figures from EUR35,000 in 2022.
Ebit was EUR334,000 from negative EUR638,000 as of Dec. 31, 2022.
Net financial position was positive EUR762,000 from EUR108,000 as of Dec. 31, 2022 and up in triple digits.
The company reported that as of Dec. 31, 11 aircraft have been delivered and it has a backlog of 14 aircraft.
Alberto Porto, president and chief executive officer of Porto Aviation Group, commented, "The year 2023 has been a very good year for our company, which thanks to extraordinary events such as the listing on Euronext Growth Milan and a financing obtained, has managed to continue and significantly accelerate the already undertaken growth path of the last few years."
"We have grown as aircraft produced, as internal resources, and very advanced is the development of the new Risen-4-seat aircraft model. We expect a 2024 of further growth with improved efficiency margins and in addition to the new model also further development of foreign markets."
Porto Aviation Group on Wednesday closed in the green by 3.5 percent at EUR4.70 per share.
By Claudia Cavaliere, Alliance News reporter
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