(Alliance News) - Tenax International Spa reported Monday that it ended 2023 with revenues of EUR20.2 million, up from EUR17 million in the previous year.

The largest contribution to that result came from the sale of sweeping and street washing machines, whose revenues stood at EUR18.9 million, up 17 percent from 2022.

The company also reported that the 2024 order backlog, which also includes sales as of January 31, 2024, stands at EUR13.9 million, up 68.8 percent from the full year 2023.

The production plan approved by management calls for the fulfillment in the first half of the year of a portion of the backlog of EUR12 million, or 133% of what was recorded in the entire first half of 2023, or EUR9 million.

Tenax International's stock closed Monday down 1.4 percent at EUR2.80 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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