(Alliance News) - Ratti Spa reported Thursday that it closed 2023 with a loss of EUR1.9 million from a profit of EUR2.6 million in 2022.

Revenues amounted to EUR92.1 million from EUR88.6 million in 2022, up mainly in the high-end segment thanks to an established presence at the world's leading luxury players, the company points out.

Ebitda increases to EUR3.5 million from EUR8.0 million in the previous year.

Ebit is negative EUR1.7 million from a positive EUR3.3 million in 2022, "a result primarily influenced by the rising trend in the cost of production factors as a result of a non-complete saturation of production facilities, as well as the increased incidence of energy costs," the note says.

Net financial position is negative EUR10.4 million from minus EUR5.2 million in 2022.

Capital expenditures amount to EUR5.8 million from EUR6.7 million in the previous year.

Regarding the future, the company points out that the "first months of the year 2024 show order intake for the group substantially in line with the same period of the previous year. The slowdown expected by customers, together with a macroeconomic scenario of high rates and geopolitical uncertainty, suggests caution for the year."

Ratti's stock trades in the red by 1.3 percent at EUR2.26 per share.

By Chiara Bruschi, Alliance News reporter

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