(Finance) – Someca company listed on Euronext Milan and active in the implementation of projects in the naval and civil sectors, has announced that the revenues as at 30 June 2023 they stood at 191.6 million euros, up by 39.6 million compared to the 152 million in the first half of 2022 (+26%, of which 1.8% related to the favorable exchange rate effect). L’EBITDA of the first half of 2023 stood at 9.8 million euros, an increase of 7.4% compared to the 9.1 million of the corresponding period of the previous financial year, but theEBITDA margin recorded a contraction, reaching 5.1% compared to 6% in the first half of 2022.
The consolidated net result was negative for 1.8 million euros, worsening by 1.5 million compared to the loss of 0.4 million in the first half of 2022. The result was burdened by net financial charges of 2.4 million euros linked to the increase in gross debt, as well as an increase in the cost of the short-term component of the same.
“The robust growth in revenues and the achievement of increasingly prestigious orders confirm the goodness of the strategic choices made in past years and of the development drivers on which we are focusing: external growth, diversification, high-end and sustainability – commented the president Oscar Marchetto – All divisions have recorded positive performances and also in the current quarter we are collecting signals that go in the same direction, so much so that we continue to monitor the market in search of new opportunities for strengthening, in particular for the benefit of Mestieri”.
“The resources invested in structure and organisation, as well as the delays of some more historic orders and those more impacted by inflation, have inevitably influenced the margins of the half-year, but the unexpressed potential of the business and the actions implemented by the management will allow us to improve the main indicators already in the second part of the year“.
There Net Financial Positionexcluding the effects of the application of the IFRS161 accounting standard, stood at 70.4 million euros at 30 June 2023, an increase of 16.2 million compared to the 54.3 million recorded at 31 December 2022. The deterioration was determined in particular, it was the cash flow deriving from operating activities, which was negative for 8 million euros due to the absorption of resources in terms of net working capital (it had been positive for 16.5 million in the first half of 2022).
Regarding the guidance, and with reference to the forecasts of last March, Somec confirms the expectations of strong growth in revenues, whose robust trend will push the 2023 final balance well beyond the level of 360 million euros already indicated; Yes now expects an EBITDA of between 26 and 29 million euros, compared to previous expectations of over 30 million but still up by double digits on the 23.2 million for the 2022 financial year; envisages a pre-IFRS16 Net Financial Position of between 40 and 50 million euros; continues to expect the return to the payment of the dividend based on the profits for the 2023 financial year.