(Alliance News) - Tesmec Spa's board of directors on Friday approved the draft operating and consolidated financial statements for 2022 reporting revenues of EUR245.2 million up from EUR194.3 million in 2021.

Net income amounted to EUR7.9 million up sharply from the EUR1.2 million reported in 2021.

Ebitda for 2022 turns out to be EUR35.2 million improving from EUR28.1 million in the previous year.

Ebit is also up, rising to EUR13.1 million from EUR5.7 million in 2021.

Net financial debt is EUR128.4 million compared to EUR125.8 million as of September 30, 2022, and compared to EUR121.1 million as of December 31, 2021, due to the cash absorption generated by the change in working capital and the change in the scope of consolidation for the entry of Saudi Tesmec and Tesmec Peninsula, as explained by the company in a note.

The order backlog as of December 31, 2022 reached EUR406.1 million of which EUR223.4 million related to the Rail segment, EUR82.2 million to the Trencher segment, and EUR100.6 million to the Energy segment of which EUR81.9 million related to the Energy Automation segment and EUR18.7 million to the Tesatura segment - up from both EUR309.9 million as of September 30, 2022, and EUR284.2 million as of December 31, 2021.

As for the future, the guppo "expects a maintenance and strengthening of growth thanks to the opportunities generated by the national plans supporting the development of infrastructure projects, energy transition and digitalization."

Tesmec, therefore, "expects for fiscal year 2023 revenues at the high end of the range of the 2021-2023 Business Plan, that is, between EUR280-290 million, a marginality between 16 percent and 17 percent, an improvement over fiscal year 2022, a reduction compared to the Plan forecast, which did not contemplate inflationary impacts such as those recorded in fiscal years 2021 and 2022, and an improvement in net financial debt compared to the close of fiscal year 2022."

Caccia Dominioni, president and CEO, commented, "In a market such as the current one, Tesmec proposes, in fact,high-tech and efficiency solutions and continues its challenge to decarbonization and electrification. Energy infrastructures are increasingly becoming a fundamental factor of sustainable development and Tesmec confirms its willingness to be among the enablers of this era of green and digital transition. In terms of profitability, the Group is implementing the necessary actions to further recover margins despite a framework of general cost increases."

Tesmec trades in the green by 3.5 percent at EUR0.18 per share.

By Chiara Bruschi, Alliance News reporter

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