(Alliance News) - Riba Mundo Tecnologia SA reported that it ended 2023 with a net profit of EUR700,000, down from EUR5.0 million in 2022.

Revenues rose to EUR434 million from EUR329 million, with good performance in product categories other than those that represent the core business, in line with the diversification strategies adopted by management. There were 55,228 orders, or an additional 25,023 - plus 83 percent - compared to 30,205 orders in 2022. Units sold totaled 4.2 million, or an additional 2.1 million units compared to 2.1 million units sold in 2022.

In 2023, gross margin reported excellent results of EUR20.7 million, up 35 percent from EUR15.3 million in fiscal 2022.

Contribution margin also grew from EUR12.1 million in FY2022 to EUR16.6 million in FY2023 due to efficient management of rising transportation costs more than offset by the good performance of units sold.

Ebitda increased 23 percent to EUR9.2 million from EUR7.5 million in 2022. Ebit decreased to a negative EUR1.0 million from EUR400,000 in 2022 as a result of higher D&A due to the company's investments.

Net financial debt as of Dec. 31, 2023 was EUR36.0 million: "It is worth noting that given the strategy of the general management launched in FY2023 and based on prepayment of suppliers to increase margins, advance payments made in December 2023 amounted to EUR9.7 million from EUR600,000 in December 2022 but deliveries were extraordinarily delayed in January. This means that inventory turnover occurred in January and the proportional positive impact of EUR9.7 million on net financial debt-as well as revenues-and higher margins occurred in January instead of December."

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.