Deodato.Gallery, double-digit growth in revenues and profitability in 2022

DeodatoGallery double digit growth in revenues and profitability in 2022

(Tiper Stock Exchange) – Deodatus. Gallerya group active in the contemporary art market and listed on Euronext Growth Milan, closed 2022 with a production value equal to 9.5 million euros, with an increase of 32.8% compared to the figure as at 31 December 2021. TheEBITDA is equal to 1.9 million euros, up by 28.5%, and a Net income to 1.1 million euro, an increase of 20.6%.

“The economic and financial results for the 2022 financial year are certainly very positive – commented theAD Deodatus Salafia – During the two-year period 2020-21, affected by the Covid-19 problem, the company demonstrated the ability to know how to operate against the trend of crises and in difficult market contexts, the same happened in 2022. However, the company in the last three years it has not only grown, as can be seen from the financial statements, but has also invested heavily in extraordinary operations which will allow it to further strengthen in the coming years”.

L’Net financial debt as at 31 December 2022 it is equal to 0.9 million euro; as at 31 December 2021 the figure was 0.3 million euro. The increase is mainly due to the taking out of new loans during the year, partly offset by the increase in cash and cash equivalents.

With regard to the outlook, Deodato.Gallery communicated that more direct offices are in the process of opening, while the numbers of web analytics are all growing strongly. The average receipt has grown by 25% during 2022 and a similar growth can be expected in 2023. The number of transactions is also increasing.

“It should be noted that the results for the first months of 2023 show signs of positive prospects, dictated by the increase in sales turnover volumes and therefore, room for growth is expected at a consolidated level also for the current year”, reads the note on the accounts.