(Finance) – FOPEa Vicenza goldsmith company active in the high-end jewelery sector and listed on Euronext Growth Milan, closed the first half of 2023 with revenues equal to 34.7 million euros (+25% compared to the same period of 2022), EBITDA equal to 9.1 million euros (+37%, with EBITDA margin at 26.2% vs 24.0%) e Net income equal to 5.6 million euros (+19%).
“The result bears witness to the process of stable growth of the group on the reference markets – commented theCEO Diego Nardin – As is now consolidated in the experience of our company, foreign markets, led by America, have substantially generated this result, in this period also with the contribution of the Italian market which has kept pace. In June we inaugurated our own single-brand boutique in Tokyo Ginza, confirming the interesting results recorded in Japan, a market that is still very young for us.”
“The improvement of the delivery capacity of production processes had a positive impact on the overall sales volume, allowing the order backlog recorded at the beginning of the year to be processed within the scheduled times – he added – The fruitful collaboration with our dealers continues and we confirm the expectation of a positive closure of the current financial year”.
There Net Financial Position is equal to 5 million euros, compared to a positive cash NFP of 1.5 million at 31 December 2022 and a debt of 0.2 million at 30 June 2022. The change in the NFP was mainly affected by the reduction in liquid assets due to the increase in warehouse stocks, as well as the increase in exposure to customer credit. During the half-year, new loans were taken out for 3 million and existing loans for 2.32 million were repaid.