(Finance) – Fine Foods & Pharmaceuticalsa company listed on Euronext STAR Milan and active in the sector of development and contract production of solid oral forms intended for the pharmaceutical and nutraceutical industry, closed on 2023 with revenues consolidated amounts of 251.8 million euros (+21.7% compared to 2022). L’EBITDA is 22.3 million euros (+44.5%), with a EBITDA Margin to 8.8% (up from 7.4% in 2022).
The Period Result is equal to -3.5 million euros, an improvement compared to -9.5 million euros in 2022. The loss is almost entirely attributable to the negative result of financial management, where financial charges of 4.9 million were recorded euro (increasing compared to the previous year due to the worsening of interest rates). The Adj. Period Result it is positive for 4.9 million euros, compared to the negative value of 8.6 million in 2022.
“We are very proud of our performances in 2023, a year which shows growth in Group revenues at levels almost double compared to usual ones – commented theCEO Giorgio Ferraris – The solidity of our business model and our organization have allowed us a rapid recovery in marginal values, at the same time as the rapprochement with historical values, which we intend to overcome soon. In a market that is growing in volume, we intend to increase our market share. The investments aimed at expanding production capacity, already completed for the Cosmetics BU, and planned in the next two years for the Pharma BU and Food BU will allow us to satisfy the growing interest of customers in our Group, offering us a very positive outlook for the period 2024-2028″.
There Net Financial Position at 31 December 2023 it was equal to -43.6 million euros, substantially in line with the value at 31 December 2022 (reduction of 57 thousand). In fact, operating activity generates a positive flow of 20.3 million euros, which is partly absorbed by the net investments made in the period (17.4 million), by the distribution of dividends (2.5 million) and by purchase of own shares (0.3 million).
The Board of Directors proposes to the next Shareholders’ Meeting, called on 29 May 2024, the distribution of a dividend per unit of 0.12 euros, gross of legal withholdings, for each ordinary share (net of treasury shares) in circulation on the record date.