(Alliance News) - Indel B Spa reported on Friday that it posted adjusted net income of EUR15.2 million in 2023 from EUR16.3 million in 2022, thus down 7.0 percent.

In addition, the board of directors will propose a dividend of EUR0.80 per share in line with the dividend paid in 2023 from 2022.

Consolidated revenues amounted to EUR226.5 million from EUR227.4 million in 2022, down 0.4 percent.

Adjusted Ebida is EUR28.3 million from EUR30.6 million in 2022, down 7.7 percent.

Adjusted Ebit is EUR20.8 million from EUR23.7 million in 2022, down about 13%.

Net financial position is negative EUR7.5 million from negative EUR28.5 million in 2022.

"Although 2024 is still likely to be a year of transition for the group, expectations in the medium - long term remain good, both in relation to the foreseeable market trends and the specific actions the group is taking, aimed in particular at developing the markets of Automotive, Hospitality and Cooling Appliances," the note reads.

The board of directors also resolved to submit to the shareholders' meeting the proposed authorization to purchase and dispose of treasury shares, for the unexecuted part, of the previous resolution authorizing the purchase and disposition of treasury shares adopted by the shareholders' meeting on May 31, 2023.

Indel B stock is flat at EUR23.60 per share.

By Chiara Bruschi, Alliance News reporter

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