(Alliance News) - Radici Pietro Industries & Brands Spa reported Monday that it ended 2023 with a net profit of EUR465,000 compared to EUR187,000 in the previous year.

Revenues rose to EUR56.0 million from EUR53.5 million in 2022, with Italy driving the figure with an 11 percent increase to EUR30.6 million from EUR27.5 million, offsetting an 11 percent decline in the EU, to EUR13.2 million from EUR14.8 million. Sales grew 15% in the U.S. but fell 13% in the Rest of the World.

Ebitda improved to EUR4.9 million from EUR3.7 million--with a margin of 8.8% from 6.9% a year earlier and 8.3% of internal estimates--while operating income rose to EUR1.7 million from EUR939,000 a year earlier.

Net financial position was negative EUR16.0 million from EUR16.5 million at the end of 2022, and equity rose slightly to EUR32.8 million from EUR32.5 million.

Radici Pietro Industries & Brands' stock closed Monday unchanged at EUR1.13 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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