(Alliance News) - SosTravel.com Spa announced Thursday that its board of directors approved the 2023-2027 Business Plan and released its 2022 preliminary results, which reflect the effects of the merger with Digital Destination Company Srl as of January 1, 2022.

As of December 31, 2022, therefore, the company reported revenues of EUR17.2 million, up 42 percent from the consolidated pro forma 2021. This growth, SosTravel.com explained in a note, was mainly attributable to higher sales of package vacations.

Ebitda for the year 2022 is positive EUR22,000 from negative EUR27,000 in 2021. Marginality in 2022 is about 0.1 percent, essentially break-even.

The Net Cash Position is EUR805,000, down from the 2021 proforma of about EUR1.8 million, mainly due to the non-interest bearing loan of EUR700,000 granted by the company to Trawell and costs related to the merger transaction.

As for the Business Plan, the company expects to achieve EUR32.5 million in revenues in 2027, an Ebitda of EUR3.8 million, with an Ebitda margin of nearly 12 percent, and a Net Financial Position of EUR4.9 million.

Rudolph Gentile, president of Sostravel.com commented, "We are happy to be able to present to domestic and international investors a coherent and detailed business plan for the growth of the company with positive results in revenues, margins and NFP and that we are sure can increase the interest already shown - by institutional investors to invest in the company's share capital."

Carmine Colella, CEO, added, "We are presenting the Sostravel.com 2027 Plan starting from the good preliminary results of 2022, with a conservative view of the business, in line with the priorities of the new management that took office in November: flexible cost structure, preservation of liquidity and balancing cost control with investments, and Ebitda at break-even in 2022 and growing over the plan period."

SosTravel.com on Thursday closed in the green 1.8 percent to EUR1.11 per share.

By Chiara Bruschi, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.