(Alliance News) - Newlat Food Spa on Tuesday reported its results for fiscal year 2023, which closed with a profit of EUR15.5 million, more than doubled from EUR6.6 million in the previous year.

Consolidated "record" revenues are EUR793.3 million, a 7 percent improvement over the previous year, when they were EUR741.1 million.

Consolidated Ebitda is EUR68.1 million, up 21 percent from EUR56.4 million in 2022.

Consolidated Ebit increased to EUR31.3 million, a 56 percent improvement from EUR20.1 million in the previous year.

Consolidated Net Financial Position as of December 31, 2023 is negative EUR74.3 million, an improvement from the previous year's figure of EUR109.8 million.

Regarding the future, the company points out that the uncertainties caused by the conflicts in Ukraine and the Middle East "have conditioned and constantly condition the choices and business policies of the group, which is faced with a highly dynamic environment" where it is difficult to foresee significant repercussions on the outlook for 2024. However, "the directors believe, based on available information, that they reasonably exclude significant negative impacts."

In the first two months of 2024, all business lines recorded a substantial increase in sales, which grew by 7.0 percent to EUR135.7 million from EUR126.7 million in the same period of 2023.

Newlat Food's stock closed Monday up 0.2 percent to EUR6.41 per share.

By Chiara Bruschi, Alliance News reporter

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