(Alliance News) - Tinextra Spa on Thursday reported that it closed 2023 with a net profit of EUR69.9 million, down 11 percent from EUR78.1 million as of Dec. 31, 2022.

Revenues in the period stood at EUR395.8 million from EUR357.2 million in 2022.

Adjusted Ebitda as of December 31 was worth EUR103.0 million, while Ebitda was EUR93.8 million from EUR86.3 million in 2022.

Operating income is EUR52.4 million, up from EUR51.5 million in 2022.

The board also approved the strategic plan to 2026, which forecasts consolidated revenues to grow between 21 percent and 23 percent from 2023, with adjusted Ebitda increasing between 28 percent and 32 percent.

In addition, the company forecasts that the adjusted NFP/Ebitda debt ratio is expected to be between 1.7x and 1.9x at the end of 2024, and is expected to decrease between 0.8x and 1.0x at the end of the plan period, including an annual dividend payout and thus confirming solid operating cash generation by the group, the company explained in a note.

In addition, the BoD approved the proposed authorization for a share buyback plan.

Chairman Enrico Salza commented, "Tinexta's growth, which has continued in 2023 and is expected to be even more pronounced in the next three years, is the result of a precise vision, which has led to the identification and aggregation of strategic businesses, whose profitability allows us to continue investing to maintain a standard of offerings with high added value to serve the development of the activities of professionals, businesses and Public Administration."

"This dynamic is the result of solid operational guidance, the work of all people in the group, and the constant attention of a governance with a shared vision of choices."

Tinexta trades in the green by 1.0 percent at EUR18.40 per share.

By Claudia Cavaliere, Alliance News reporter

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