(Alliance News) - Websolute Spa on Wednesday approved its results as of December 31, 2022, reporting a loss of EUR520,000, worsening from a profit of EUR470,000 in 2021, after tax of EUR210,000, which was EUR430,000 in 2021. In 2022, adjusted net income stands at EUR50,000 from EUR320,000 in the previous year.

Value of production stands at EUR22.8 million, up 15 percent from EUR19.9 million in 2021.

Sales and service revenues are EUR21.5 million, up 16 percent from EUR18.6 million in 2021 to which all sales families contributed: Digital Marketing with 9.0 percent, Digital Platforms with 5 percent, Social & influencer marketing for 7 percent, Brand UX-UI-Customer Journey with 33 percent, New Media Publishing with 24 percent, Academy with 51 percent, Augmented Virtual Reality and Artificial Intelligence with 142 percent, E-commerce Strategy & Management with 10 percent, Cloud & System Integration with 7 percent, and Digital Strategy Consulting with 66 percent.

Ebitda stands at EUR2.1 million, compared to EUR2.9 million in 2021; Ebitda margin is 9%, compared to 15% in 2021. The change in Ebitda was affected by higher service costs, partly due to nonrecurring costs, and higher personnel costs.

Adjusted Ebitda, before nonrecurring cost components, is EUR2.6 million, compared to EUR2.8 million in 2021, with an adjusted Ebitda margin of 11 percent, from 14 percent in 2021.

Ebit is negative EUR210,000 compared to EUR970,000 in 2021, after depreciation and amortization of EUR2.3 million, from EUR2.0 million in 2021. Adjusted Ebit is EUR310,000 from EUR820,000 in 2021.

Shareholders' equity is EUR5.6 million, up from EUR5.2 million as of December 31, 2021.

Net financial debt is EUR3.2 million, up from EUR2.4 million as of December 31, 2021.

As far as the future is concerned, the order backlog as of January 1, 2023, exceeding EUR5 million, "shows a positive trend that allows for a prudentially approximate coverage of no. 4/5 months of production planning," the company points out.

"The turnover trend in the first two months of 2023 shows a growth of 8.6 percent, starting from an appreciable order backlog present as of Jan. 1, 2023, and registering a decrease in orders acquired in February. Sales management and marketing management are engaged in introducing specific actions aimed at increasing order intake in the short term. Group companies are benefiting from the positive effects of synergies, which are a significant component of the sales achieved by subsidiaries.

In addition, the company is "continuing to evaluate transactions to acquire controlling stakes in companies, which are potentially complementary and incremental to the Group's business."

Websolute, on Wednesday, closed flat at EUR2.14 per share.

By Chiara Bruschi, Alliance News reporter

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