(Finance) – Destination Italyan Italian Travel Tech company specialized in quality incoming tourism to Italy and listed on Euronext Growth Milan, closed 2021 with Revenues from sales equal to 7.4 million euros, an increase of 85% compared to 2020. The performance was possible thanks to a net trend reversal starting in June, following the reopening made possible thanks to the vaccination plan and the introduction of the vaccination passport. The data for the beginning of 2022 are clearly improving: the order backlog in mid-March 2022 amounts to approximately 6 million euros (7.5 times compared to 0.8 million in the same period of 2021), of which approximately 779 thousand have already traveled. February 28, 2022 (13 times compared to the same period in 2021).
L’EBITDA amounted to -1.60 million euros, an improvement of 45% compared to -2.91 million at 31 December 2020. The Net income amounted to -1.97 million, an improvement of 19% compared to -2.45 million at 31 December 2020. The group recorded a Net financial position cash positive of € 0.34 million, an improvement on net debt of € 1.60 million at 31 December 2020 thanks to the proceeds collected in the IPO.
“The group has accelerated the process of expanding and consolidating its presence within the geographic markets on which it operates, activating new international geographic markets and strengthening its distinctive position as Technological Leader on the Incoming market – commented the president Dina Ravera – 2021 was a positive year thanks to the recovery of incoming tourism, which saw a strong growth trend starting from the second half of the year “.
“In this context of dynamic events and the gradual easing of containment measures from Covid, we must read the important growth in the group’s turnover (+ 85%) which, despite being still far from the pre-pandemic period, makes us look to the future with optimism – he added – Also the trend of the first months of 2022, which records an order book, in mid-March, of about 6 million euros, bodes well for a recovery of quality tourismwith a very interesting value especially if compared to the approximately 0.8 million in the same period of 2021 “.
Management highlighted that the Russia represented in the past “a significant portion of the total turnover“and that the group has for some time started initiatives to reduce its exposure, such as the implementation of strategic and commercial plans to develop other markets aimed at compensating for any lower revenues deriving from the effects of the conflict. However, it is not possible to specify with certainty to what extent they will have effects economic and financial on the prospects of the group in the immediate future.