(Alliance News) - Labomar Spa reported Wednesday that it ended 2022 with a net profit of EUR6.0 million, down from EUR8.3 million in the previous year.

Labomar Group revenues in 2022 amounted to EUR91.8 million, a significant increase of 40 percent compared to the consolidated revenue of EUR65.4 million achieved in 2021. The latter included - in addition to the values of Labomar Spa and Entreprises ImportFab Inc - the turnover of the companies acquired during the year, namely Welcare, from the second half of 2022, and Labiotre Srl, for the month of December only. All group companies contributed positively to the results achieved during the year.

The Labomar Group's Ebitda as of December 31, 2022, stood at EUR16.6 million, a margin of 18 points, slightly higher than stated and the most recent analysts' estimates and up from EUR10.1 million in the previous year.

The Net Financial Position, negative EUR27.6 million, represents bank exposure, financial debt related to leases and rentals net of cash and cash equivalents, and further incorporates financial outlays related to future transactions to complete - through put and call options - the acquisitions made during 2019 of ImportFab and 2021 of Welcare.

The board of directors proposed the distribution of a dividend of EUR0.10 per share.

Labomar's stock is up 3.1 percent at EUR9.22 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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