(Finance) – In the first half of 2023 Franchi Umberto Marmi (FUM) achieved total revenues and other income of 37.8 million euros compared to the 41.8 million euros recorded in the same period of 2022 (-9.6%).
At 30 June 2023, the Adjusted EBITDA amounted to 13.7 million euros compared to 16.8 million euros in the same period of the previous year (-18.5%). The decrease – explains the company in the accounting notes – is essentially linked to the contraction in revenues. EBITDA is equal to 13.2 million Euros compared to 16.5 million Euros in the same period of 2022 (-20.0%), the EBITDA Margin is equal to 35.0% compared to 39.5% of the first half of 2022.
The Operating income is equal to 10.0 million Euros compared to 13.5 million Euros in the same period of the previous year (-26.0%), while theProfit for the period is equal to 8.1 million Euros (-12.6%) compared to 9.3 million Euros in the same period of the previous year.
L’Net Financial Debt as at 30 June 2023 it is equal to a total of 23.6 million Euros compared to 13.5 million Euros as at 31 December 2022. The increase recorded during the first half of 2023 is attributable to the payment, which took place during the month of June , dividends and taxes.
Outlook
As for the foreseeable evolution of management, the first half of 2023 “has confirmed the positive growth trend since 2021 in a context of recovery in global demand for natural stones with particular reference to the distinctive qualities of high-end Calacatta and Statuario marbles” – underlines the company – . Among the most positive and comforting aspects also for the future, “we point out the full resumption of visits to the Company’s showrooms by customers’ commercial emissaries. Furthermore, the signals arriving from foreign markets are comforting especially after the positive trend of the Chinese fair that combined with the possibility that
the Marmomac fair in Verona (scheduled for the end of September) which represents the most important trade fair event for the stone sector in Italy – can return to an attendance in line with 2019 could represent an important sales accelerator for the last quarter of the ‘year”.