(Alliance News) - MeglioQuesto Spa reported that it ended 2022 with a net profit down to EUR2.0 million from EUR3.9 million in the previous year.

Revenues were EUR77.8 million and up 27 percent from EUR61.4 million in 2021. The company reported a positive contribution from both business lines: Customer Acquisition records revenues of EUR69.7 million and up 27 percent from EUR54.9 million in 2021; Customer Management records revenues of EUR8.1 million, up 25 percent from EUR6.5 million a year earlier.

Sector-wise, telco and utilities remain the leading industries - 37 percent and 33 percent, respectively - followed by finance with 18 percent and insurance with 5 percent.

Production value stands at EUR79.3 million and up 27 percent from EUR62.5 million in 2021.

Ebitda rises 12 percent to EUR11.8 million from EUR10.6 million in 2021, with a margin of 14.9 percent, down from 16.9 percent in 2021 due to an increase in the percentage weight of personnel and other operating costs, partially offset by lower weight of service and raw material costs.

Adjusted Ebitda is EUR13.1 million, up 15 percent from EUR11.4 million in 2021; adjusted Ebitda differs from reported Ebitda due to positive and negative extraordinary items of a nonrecurring nature, such as accounting contingencies related to prior-year provisions, and nondeductible VAT.

Ebitda was EUR6.6 million compared to EUR8.0 million in 2021, after depreciation and amortization and provisions of EUR5.3 million from EUR2.5 million in 2021. Pre-tax income is EUR4.2 million compared to EUR6.3 million el 2021, after finance charges of EUR2.4 million, up from EUR1.7 million in 2021.

Net financial position is EUR30.3 million, reflecting the acceleration of the acquisition and investment program announced at IPOs.

Pro-forma figures, which include those of Eureweb Srl and Smart Contract Srl, which were taken over last year, show revenues of EUR84.8 million, Ebitda of EUR13.8 million, Ebit of EUR7.4 million and net income of EUR2.4 million.

The company also approved a new 2023-2025 strategic plan: specifically, value of production is expected at EUR100-105 million this year and EUR140 million in 2025; adjusted Ebitda is estimated at EUR18-20 million and EUR32 million in two years' time, with margins of 18-19% this year and 23% at the end of the plan; NFP is expected to decline from EUR24-26 million in 2023 to EUR14 million in 2025.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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