(Alliance News) - The board of directors of SOL Spa on Thursday approved the group's consolidated financial statements and draft budget for fiscal year 2022, reporting a net profit up to EUR133.7 million from EUR89.5 million in 2021.

The board will also propose a dividend of EUR0.33 per share, up from EUR0.24 in 2021.

Consolidated sales are EUR1.38 billion, up 24 percent from EUR1.1 billion in 2021.

Compared to the previous year, sales increased by 930% in Italy and 20% abroad. The latter accounted for 56% of total sales at the end of 2022. The Technical Gas Division grew by 37% and the Home Medical Care Division, where the Group operates through Vivisol, by 11%.

Ebitda is EUR328.3 million, up 26 percent from EUR260.8 million in 2021.

Ebit was EUR192.5 million from EUR135.8 million in 2021.

Tangible and intangible investments made during 2022 total EUR131.2 million, with a Capex of 9.5%; consolidated operating cash flow is EUR266.5 million from EUR213.1 million in 2021. "The net debt/equity ratio of about 45% confirms the Group's financial strength, which has net debt of EUR389.7 million from EUR323.7 million net of leases, up EUR78.9 million from 2021, but after making investments and acquisitions of EUR220 million," the company specified in a note.

As for the future, "compatibly with the evolution of the war between Russia and Ukraine, with the trend of energy costs and inflation, ? commented Aldo Fumagalli Romario, SOL President? the SOL Group will continue in 2023 in its investment and, where possible, acquisition programs, with the aim of achieving good sales growth and maintaining profitability at appreciable levels."

SOL, on Thursday, trades in the green by 1.9 percent at EUR23.95 per share.

By Chiara Bruschi, Alliance News reporter

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