(Finance) – The Board of Directors of Phidias approved the 2023 budget which ended with Net revenues consolidated amounts of Euro 28.6 million, up 17% compared to Euro 24.4 million recorded in financial year 2022. Consolidated EBITDA was equal to negative Euro 0.2 million, compared to negative Euro 2.6 million of the 2022 financial year.
The Net income consolidated was equal to negative Euro 1.47 million, compared to negative Euro 4.9 million in the 2022 financial year (net of non-recurring items relating to the settlement of debt).
Financial debt net at 31 December 2023 is equal to Euro 9.6 million, compared to Euro 7.4 million at 31 December 2022.
Furthermore, again today, the Board of Directors has approved a review and update of the industrial plan 2023-2026, which was lastly approved on 31 October 2023. The new Business Plan approved today considers a time horizon extended up to the 2027 financial year and is also based on the Group’s results achieved in the 2023 financial year and on the observation of the management performance in the first quarter of 2024.
As regards the revenue growth forecasts of the Group contained in the Business Plan, “depending on the achievement of the pre-established objectives, these assume a higher rate than the growth forecasts of the reference market”. In particular, revenues are expected to grow from Euro 28.6 million in 2023 to Euro 43.3 million in 2027.