(Finance) – The Board of Directors of Phidiasa company listed on Euronext Milan and active in the sector of design, production and marketing of milling systems, has examined and updated the industrial plan approved on 17 March/12 May 2023, limited to the economic and financial data expected for the 2023 financial year and, limited to the financial data, also for the 2024 financial year.
As for the revenuesthe Updated Industrial Plan provides for the 2023 financial year, compared to the Industrial Plan, a limited reduction of the same from 30.1 million euros to 29 million euros, which however, at the level of added value, entails a reduction of 148 thousand euros compared to to the data originally expected.
The most significant update concerns the estimate ofEBITDA expected for the 2023 financial year, which was expected to be equal to 2.1 million euros in the Industrial Plan (+4.7 million compared to 2022) and which the Updated Industrial Plan instead forecasts to be equal to 1 million euros (+ 3.6 million compared to 2022). The update of the EBITDA data expected for 2023 also led to a revision of the expected data relating to Net income 2023, which from being positive (83 thousand euros) is instead expected to be negative for 574 thousand euros.
“The reduction in expected EBITDA – we read in a note – is mainly attributable to higher fixed costs recorded than expected in the Industrial Plan, as a consequence of a series of factors, among which, the balance of costs deriving from the simultaneous reduction of personnel and the hiring of new professional figures, the increase in costs for travel and business trips, some costs necessary for the participation in international fairs, as well as some reclassifications of depreciation”.
The Board of Directors has also prepared a Second Supplement to the Information Prospectuswhich will be filed without delay with CONSOB
together with the application for approval.
(Photo: Priscilla Du Preez on Unsplash)