Ecosuntek, revenues down sharply in 2023; profit halved

(Alliance News) - Ecosuntek Spa reported Wednesday that it ended 2023 with a profit of EUR3.9 million, down from EUR8.5 million in 2022.

Revenues dropped to EUR493.0 million from EUR906.6 million a year earlier. "This decrease is due exclusively to the reduction in the cost of raw material energy and gas in Italy in the reporting period," the company says in a statement.

Ebitda increased to EUR12.6 million from EUR17.3 million as of December 31, 2022. Ebitda margin in FY 2023 is 2.5 percent up from 2.0 percent as of Dec. 31, 2022.

Ebit in 2023 drops to EUR11.1 million from EUR14.2 million a year earlier.

Net financial position as of Dec. 31 is EUR15.7 million net debt from EUR4.3 million debt as of June 30, 2023 and a net cash NFP of EUR4.3 million as of Dec. 31, 2022.

Ecosuntek gives up 0.3 percent to EUR19.15 per share.

By Chiara Bruschi, Alliance News reporter

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