(Alliance News) - The board of directors of Friulchem Spa has announced that it has approved the results for the year ended Dec. 31, 2022, having reported a value of production of EUR35.7 million, up 45 percent from EUR24.5 million in the same year of the previous period.

Sales revenue amounted to EUR34.3 million from EUR22.9 million and up 50 percent from December 31, 2021.

Ebitda is EUR1.6 million, broadly in line with the same period last year and with an Ebitda margin of 4.5 percent from 6.4 percent in 2021.

Ebit is EUR500,000 compared to EUR700,000 at the end of 2021 and an Ebit margin of 1.4 percent from 2.8 percent in 2021.

Profit stands at EUR30,000 from EUR80,000 as of December 31, 2021.

Net financial position as of December 31, 2022 was EUR5.4 million, a deterioration from last year when it was EUR3.1 million.

Looking ahead, "Based on the forecast data prepared for fiscal year 2023, sales volume growth and a positive economic result are estimated. The results of the first months of 2023 confirm these forecasts and, consequently, the aforementioned expectations. The company has introduced a new controller figure who will intervene to support the different business functions in order to enable better control of activities with a check on business costs," the company explained in a note.

Friulchem closed Thursday in the green by 3.9 percent to EUR1.08 per share.

By Claudia Cavaliere, Alliance News reporter

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