(Alliance News) - Pozzi Milano Spa reported Thursday that it reported revenues of EUR18.2 million in 2023, down 9.0 percent from EUR20.0 million in 2022.

Revenues generated from sales, excluding those made through promotional channels, stood at EUR16.6 million, remaining unchanged from the previous year.

In FY2023, despite a global situation still characterized by general uncertainty, Pozzi Milano achieved positive results, especially internationally, recording about 77 percent of revenues abroad, the company explained in a note.

The countries where Pozzi Milano was most present in 2023 with its brands were Western Europe, particularly France, the Americas, and the Middle East.

As of Dec. 31, the number of B2B customers increased by 6 percent from 1,972 in 2022 to 2,078, of which 1,942 were from the retail channel, up 7.0 percent from 2022.

Net financial debt stood at EUR1.4 million, an improvement from the December 31, 2022 figure of EUR2.7 million thanks to positive cash flows generated from operations.

Fabio Sanzogni, managing director and vice chairman of Pozzi Milano, commented, "We can be satisfied with the results obtained by the company, which is operating in an international contextstill characterized by instability due to ongoing conflicts and tensions. The preliminary figures are a confirmation of the strategy of our business model. We have new goals and still many plans for the coming months."

"We count on expanding our products and areas of action strong from the contracts already signed in 2024 such as the one with a well-known Mexican retail chain for tableware products or the confirmation of the framework agreement inherent to the renewal of the merchandise supply contract with Promotica Spa."

On Thursday, Pozzi Milano closed in the green by 7.7 percent at EUR0.76 per share.

By Claudia Cavaliere, Alliance News reporter

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