(Alliance News) - Biesse Spa on Thursday approved results for the first quarter of the year during which it reported a profit of EUR12.3 million from EUR9.8 million in the same period last year.

Consolidated net revenues amounted to EUR209.5 million from EUR196.6 million as of March 31, 2022.

Ebitda is EUR28.0 million from EUR26.1 million in the first quarter of 2022.

Ebit is EUR18.4 million from EUR15.1 million in 2022.

Net financial position is positive EUR107.3 million, broadly in line with the previous year when it was EUR107.7 million.

Biesse CFO Pierre La Tour commented, "The results testify to how Biesse fully benefited from global demand for capital goods during 2022, closing the year with a strong order backlog that is reflected in 2023 sales. We will continue to promote innovation and research convinced that these are two indispensable features, implementing new technical solutions that focus on increasing connectivity and automation, for sustainable development. The positive cash situation will be an important element in supporting our desire to grow organically and by external lines."

Biesse gives up 0.2 percent to EUR13.00 per share.

By Claudia Cavaliere, Alliance News reporter

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