(Alliance News) - The board of Powersoft Spa on Tuesday approved the consolidated financial statements as of Dec. 31, 2022, which closed with a positive consolidated net income of EUR6.3 million, up 181 percent from the EUR2.3 million profit recorded in fiscal year 2021 and accounting for 13 percent of sales.

The board of directors is proposing to the shareholders' meeting an ordinary dividend of EUR0.48 per share compared to EUR0.15 in the previous year. An extraordinary dividend - from the extraordinary reserve - of EUR0.34 per share will also be proposed.

Total consolidated revenues realized during 2022 amounted to EUR48.8 million with an increase of 45 percent compared to EUR33.7 million in the previous year, "thus archiving the slowdown suffered during the Covid-19 period," the company writes in the note.

Consolidated Ebitda for fiscal year 2022 totals EUR12.4 million, up 146 percent, and accounting for 26 percent of sales, up from the previous year's figure of 15 percent.

"During 2022, the costs of the operating structure, and in particular the expenses related to the commercial area, show an increase compared to the previous year but less than proportional to the increase in turnover, which is also a sign of a recovery of the reference business and greater investments in marketing aimed at increasing sales volumes, as well as increased commercial efficiency," the company specifies in the company statement.

Consolidated Ebit was EUR9.9 million, up from EUR2.6 million in the previous year, with Ebit margin rising from 7.7 percent to 21 percent.

"This change is attributable to both the increase in operating margins described above and the decrease in depreciation, amortization and provisions," the released note reads.

The group's net financial position as of Dec. 31, 2022 was positive at EUR24.3 million, up from EUR20 million as of Dec. 31, 2021.

Powersoft Tuesday rises more than 10 percent to EUR5.75 per share

By Maurizio Carta, Alliance News reporter

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