(Alliance News) - Radici Pietro Industries & Brands Spa reported Monday that it will end 2023 with revenues of EUR56 million, according to preliminary estimates reviewed by the board of directors.

The figure is lower than the previously expected EUR59.7 million but is 4.6 percent higher than the 2022 figure.

Same for Ebitda, expected at EUR4.8 million, revised down 4 percent from EUR5 million initially expected but up 30 percent from the previous year's figure.

Ebitda margin, on the other hand, is expected at 8.6 percent compared to the initial figure of 8.3 percent and 6.9 percent at the end of last year.

Ivan Palazzi, chief executive officer of Radici, commented, "We express our satisfaction dictated by the fact that the estimated preclosing figures show a clear recovery of margins compared to previous years, thanks also to a very positive second half of the year, which project the company to a top management result as a solid basis for continued growth for the coming years. For the first time, preclosing data estimates show that Radici Pietro's margins are better than those achieved in 2019, net of a positive non-repeatable extraordinary component of EUR2 million, when the company went public."

"This result has been achieved thanks to the investments made in the energy area - which have allowed cost mitigation - the continuous conception and presentation of innovative products and services, and the constant market presence that allow us to confirm a steady growth for the coming years."

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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