(Tiper Stock Exchange) – Emaka company listed on Euronext STAR Milan and active in the outdoor power equipment, pumps and water jetting sectors, closed the first quarter of 2023 with consolidated revenues equal to 171.8 million euro, compared to 190.2 million in the previous year, a decrease of 9.7%. This change derives from an organic drop in sales of 15.8%, partially offset by the positive effects of the change in the scope of consolidation, equal to 5.6%, and of the translation change, equal to 0.5%.
L’Adjusted EBITDA reached the value of 25.3 million euros (14.7% of revenues), compared to 27.3 million (14.4% of revenues) in the same period of 2022. The result benefited from the change in the area for 1 .4 million, while it was affected by the decrease in sales.
L’consolidated net profit for the quarter amounted to 11.4 million euros, compared to 16.9 million in 2022. The result was affected by the higher financial expenses due to the increase in market interest rates and the higher level of gross debt.
There net financial position liabilities amounted to 227.2 million euros (185.7 million net of the IFRS16 effect) compared to 192.9 million as at 31 March 2022 and 177.3 million as at 31 December 2022.