(Alliance News) - Cover 50 Spa announced on Friday that its board of directors approved the consolidated and annual financial statements as of December 31, 2022, having reported sales revenues that reached EUR30.1 million from EUR24.3 million, characterized by the predominant foreign component and increased sales of the product lines: PT Torino men's, PT Torino Denim and PT Torino women's.

Revenues in foreign markets constitute more than 57% of total sales revenues; among them Japan and the United States are the largest markets.

The contribution margin is EUR13.7 million and shows in percentage terms a marginality that is still increasing compared to the previous year.

On the rise is corporate profitability in both Ebitda, which reaches EUR6.6 million from EUR3.8 million in the same period of the previous year.

Ebit stands at EUR5.0 million from EUR3.2 million as of December 31, 2021.

Net income is EUR3.9 million from EUR2.5 million in 2021.

Net financial position is positive EUR21.8 million, an improvement from the,also positive, result reported earlier.

Cover 50 closed, Friday, flat at EUR13.20 per share.

By Claudia Cavaliere, Alliance News reporter

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