(Alliance News) - Borgosesia Spa reported that it ended 2022 with a net profit of EUR8.2 million, up from EUR7.9 million in the previous year.

Production volume grew to EUR25.6 million from EUR18.5 million, and gross margin from operating activities increased to ERU15.8 million from EUR15 million a year earlier.

Ebitda rose slightly to EUR12.3 million from EUR12 milioin the previous year.

The board proposed the distribution of a dividend of EUR0.024 per share.

Consolidated cash flow is negative due to new investments of EUR4.6 million from the positive figure of EUR5.5 million in 2021. Consolidated net debt is EUR39.3 million from EUR27.5 million as of December 31, 2021.

Borgosesia made investments already in the portfolio of EUR28.8 million, up 32% from 2021, while new investments amounted to EUR32.4 million, up 46% year-on-year, of which EUR9.6 million related to the purchase of non-performing mortgage single name loans of a nominal EUR25.7 million with "reposses strategy"; EUR22.2 million related to the direct purchase of real estate under "special situation & opportunities"; EUR600.000 million regarding the purchase of non-performing single name mortgage loans of nominal EUR1 million with "collection strategy".

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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