(Alliance News) - Valtecne Spa has approved results for the year ended Dec. 31, 2022, reporting a net profit of EUR2.5 million, up 31 percent from EUR1.9 million in 2021.

Pro forma production value amounted to EUR27.7 million, up 28 percent from EUR21.6 million in 2021. Pro forma sales revenue is EUR24.1 million from EUR18.8 million in 2021, an increase of nearly 29 percent. The growth is mainly attributable to the medical business line, whose revenues increased by 44% compared to the corresponding pro forma values in 2021.

Adjusted Ebitda is EUR5.2 million up 50 percent from EUR3.5 million in 2021.

Ebit is EUR3.1 million from EUR1.9 million in 2021, an increase of 62%.

Net financial debt is EUR5.0 million from EUR4.8 million in 2021.

In terms of business development, the company points out "that in the first months of FY2023" revenues from the medical business line "resumed adaccelerating after a slight decline in the last quarter of 2022." Another noteworthy element is "the gradual decline in energy prices, which have been stabilizing at values that, while still appearing high compared to historical ones, are very distant from the peaks reached in the third quarter of 2022."

Valtecne's stock is up 1.2 percent at EUR5.20 per share.

By Chiara Bruschi, Alliance News reporter

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