(Alliance News) - Shedir Pharma Spa reported Friday that it ended 2022 with a net profit of EUR5.9 million, up from EUR3.9 million in the previous year.

Revenues rose to EUR54.6 million from EUR45.6 million a year earlier, with the Shedir business unit increasing revenues to EUR48.3 million from EUR41.0 million in 2021 while the Dymalife business unit improved revenues to EUR6.2 million from EUR4.7 million.

The company's Ebitda rose to EUR11.3 million from EUR8.7 million in the previous year, with Shedir seeing the figure rise to EUR11.5 million from EUR9.9 million while Dymalife's Ebitda was negative EUR200,000, an improvement from the negative EUR1.2 million figure a year earlier.

Shedir Pharma's operating income rose to EUR8.3 million from EUR5.9 million a year earlier.

The board proposed the distribution of a dividend of EUR0.17 per share -- payable on May 4 -- up from EUR0.13 paid a year earlier.

Net financial position shows liquidity of EUR5.6 million from that of EUR6.8 million at the end of 2021, down mainly due to the acquisition of the Again Life group for EUR1.2 million in addition to shareholder loans to Again Life Srl of EUR800,000.

Shedir Pharma's stock is at parity at EUR3.70 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.