(Alliance News) - Sesa Spa announced Tuesday that it has approved results for the six-month period ended Oct. 30 with a net profit of EUR41.6 million from EUR41.1 million in the same period last year. Adjusted net income attributable to the group amounted to EUR50.1 million from EUR45.9 million as of Oct. 30, 2022, up 9.1 percent year-on-year.

Revenue and other income grows by 15 percent to EUR1.50 billion from EUR1.31 billion in the same period 2022.

Ebitda then rises 21 percent to EUR113.3 million from EUR93.4 million in the first six months of the previous year, with an Ebitda margin of 7.5 percent up further from 7.1 percent as of October 31, 2022.

Ebit increased to EUR75.0 million from EUR62.7 million in the first half of 2022.

Consolidated adjusted EBIT reaches a total of EUR90.7 million - adjusted Ebit margin 6.0% versus 5.5% for the same period 2022 - an increase of 25% from EUR72.7 million as of October 30, 2022.

Net financial position as of October 31 is EUR153.4 million in surplus compared to EUR189.5 million as of October 31, 2022, as a result of growth in net working capital to EUR36.1 million from EUR20.3 million as of October 31, 2022, resulting from increased revenues for the period, and higher investments in M&A with total non-current assets increasing to EUR634.3 million from EUR451.2 million as of October 31, 2022.

As for the future, the group confirms the consolidated revenue and Ebitda guidance for 2024 with a revenue target in the range of EUR3.2 billion to EUR3.3 billion and Ebitda in the range of EUR240 million to EUR250 million, for Ebitda growth in the range of 15 percent to 20 percent in the full year 2023.

"We close a six-month period of further strong growth in revenues and competencies, reaching a total of 5,400 resources up by about 50 percent compared to two years ago, in the face of a demand for digitization of businesses and organizations sustained by the need for substantial investments in technology, applications and integration services," comments Alessandro Fabbroni, CEO of Sesa.

"In light of the positive performance in the first half of the fiscal year, the investments in innovative skills and solutions, and the industrial aggregation capacity, with about 70 M&A deals already completed from 2015 to date, we confirm the favorable outlook for the current year, continuing our track record of continuous long-term growth and continuing to support our stakeholders in the current phase of digital evolution," Fabbroni concluded.

Sesa's stock trades in the green by 4.2 percent at EUR121.20 per share.

By Chiara Bruschi, Alliance News reporter

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