(Alliance News) - Tesmec Spa disclosed Friday that it closed 2023 with a loss of EUR2.7 million, which compares with a profit of EUR7.9 million in 2022, due to "higher financial components of about EUR14 million between interest and exchange rate changes," the company specified in a note.

Revenues increase to EUR252.0 million from EUR245.0 million in 2022. Geographically, the Tesmec group remains strongly oriented to international markets, with 80 percent of revenues generated outside Italy and with growth in sales contribution in the Middle East and European areas, with a concomitant recovery in the US.

Ebitda of EUR24.0 million compares with EUR35.2 million in 2022. The figure, the company points out, is "lower than expected due to contingent events, with the higher value-added sectors not expressing their full potential, and traditional sectors with lower margins. Specularly, the Ebitda margin for 2023 also declined compared to 2022, from 14.5 percent compared to sales in the previous year to the level of 13.5 percent in FY2023."

Ebit decreased to EUR11.1 million from EUR13.1 million in 2022.

Net financial debt is EUR153.5 million compared to EUR128.4 million as of Dec. 31, 2022.

Total order backlog is EUR402.2 million compared to EUR406.1 million as of December 31, 2022. Of these, EUR210.1 million related to the Railway segment, EUR71.2 million to the Trencher segment and EUR120.9 million to the Energy segment of which EUR17.9 million related to the Energy-Automation segment and EUR103 million related to the Tesatura segment - compared to EUR406.1 million as of December 31, 2022.

Tesmec's stock is down 2.5 percent at EUR0.10 per share.

By Chiara Bruschi, Alliance News reporter

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