(Finance) – The Shareholders’ Meeting of Porto Aviation Group, company active in the aeronautical sector and in particular in the design, construction and production of single-engine aircraft and propellers, has approved the financial statements as of 31 December 2023 which closed with a production value of 3,616 thousand euros, compared to 2,400 thousand euros recorded at 31 December 2022 (increasing by +51%). Revenues amounted to 3,008 thousand, compared to Euro 2,429 thousand (+24%) as at 31 December 2022; the EBITDA at 586 thousand and the EBIT at 321 thousand euros. The operating result is equal to 198 thousand euros, (-446 thousand) as of 31 December 2022.
The Shareholders’ Meeting has approved the Board of Directors’ proposal to allocate the operating profit equal to Euro 198,435 to the extraordinary reserve net of the allocation to the legal reserve.
The members also have resolved to authorize the Board of Directors to purchase, even in several tranches, ordinary shares from the
Companies without nominal value, up to a maximum number which, taking into account the ordinary shares of the Company held in portfolio from time to time, does not overall exceed 2.09% of the share capital represented by the ordinary shares in circulation, for a maximum equivalent value of Euro 300,000.