Civitanavi, half-year revenues of 13.6 million. The profit doubles

Civitanavi half year revenues of 136 million The profit doubles

(Finance) – Civitanavi Systemsa group listed on Euronext Milan active in the field of inertial navigation and stabilization systems used in the aerospace, naval and industrial sectors, closed the first semester of 2022 with total revenue equal to 13.6 million euros, an increase of 35% compared to the same period in 2021. The increase is mainly attributable to the solid and stable growth of activities, and to the strengthening of the positioning in the sector of inertial stabilization and navigation systems. global level. Sales in the sector Aerospace and Defense those of the division grew by 120%, passing to 9.1 million euros Industrial they contracted by 26% to 2.8 million euros.

L’Adjusted EBITDA was equal to 4 million euros (+ 123%), with an incidence on revenues equal to 29% (+ 11% vs 18% in the first half of 2021), while the Net income was equal to 2 million euros (+ 128%).

“The first half of 2022 represented the springboard towards a new challenge – commented theCEO Andrea Pizzarulli – Started with the listing on the Stock Exchange, the scenario has been enriched with important milestones and new partnerships that will support the growth of Civitanavi in ​​the coming months and years, and will contribute to expanding its presence on six main reference markets for its activities.

“The achievement of objectives communicated to the market on the occasion of the IPO, also through this first set of milestones, demonstrates that our commitment is bringing the expected results and that we are on the right trajectory to become great and position ourselves among the leaders in the sector – he added – market offers interesting opportunities and shows futuristic scenarios that see us at the forefront, both in supporting other rapidly growing realities and as partners of important international players “.

Regarding the outlook, the company states that in 2022 it expects growing revenue volumes supported by the development of backlog activities on programs and by a good flow of new orders. Profitability is expected to be at good levels also thanks to the initiatives to optimize industrial processes and improve the competitiveness of the main products, despite being affected by the difficulties encountered in the availability of critical raw materials.

The Booking at 30 June 2022 it was equal to 14.3 million euros. At the date of approval of the half-yearly financial report, 23 September 2022, the orders received during 2022 amounted to 26.4 million euros.