(Alliance News) - CIR Spa reported Monday that it closed 2023 with a profit of EUR32.8 million from a breakeven result as of Dec. 31, 2022, when it was slightly at a loss of EUR257,000.

Consolidated revenues in the period stood at EUR2.38 billion from EUR2.27 billion in 2022.

Consolidated Ebitda as of Dec. 31 amounted to EUR352.2 million from EUR296.2 million in the previous year.

Consolidated Ebit was worth EUR146.2 million from EUR83.9 million in 2022.

Consolidated net debt before IFRS16 as of Dec. 31, amounted to EUR17.8 million from EUR81.8 million as of Dec. 31, 2022.

The company announced that it has decided not to proceed with the distribution of dividends and to renew the authorization for the execution of buyback operations, for a maximum of 208,000,000 shares, with cancellation of treasury shares in portfolio, without reducing the share capital.

As for KOS, revenues in 2023 stood at EUR751.9 million, up 10 percent from 2022, while profit was EUR11.7 million from a loss of EUR800,000.

For Sogefi, revenues for the period stood at EUR1.63 billion, marking a 5.5 percent growth over 2022. Profit was EUR57.8 million, up 95 percent from EUR29.6 million as of Dec. 31, 2022.

CIR trades in the green by 1.6 percent at EUR0.52 per share.

By Claudia Cavaliere, Alliance News reporter

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