(Finance) – STAR7a company listed on Euronext Growth Milan and which provides an integrated range of services dedicated to product information, closed on 2023 with revenues equal to 104.4 million euros (+25.4% compared to 2022). L’EBITDA it stood at 14.6 million euros, recording a decrease of 5.4% compared to 15.5 million in the previous year. Net of the adjustments, which mainly concern the integration costs of the CAAR Group business unit, theAdjusted EBITDA consolidated amount stands at 16 million euros, showing a progress of 3.3% compared to the 2022 figure. The EBITDA Margin for the 2023 financial year is equal to 14%, while the Adjusted EBITDA Margin stands at 15.3% : a level lower than the 18.6% achieved in 2022.
L’Net Profit pertaining to the Group was 1.8 million euros, a reduction of 41.4% compared to 3.1 million in 2022. Net Financial Charges weighed on 3 million euros, due to the higher average net financial debt and the increased cost of short-term debts.
As of December 31, 2023, the Net Financial Position of the STAR7 Group is negative for 37.8 million euros, an increase of 2.7 million compared to the figure of 35.1 million at the end of 2022. The ratio between Net Financial Position and EBITDA increased slightly, from 2.3x at the end 2022 at 2.6x at the end of 2023
“2023 was an exercise that represents a new milestone in the development path of STAR7 – said the CEO Lorenzo Mondo – The topline numbers provide a significant representation of the potential that our Integral business model can express, in the upselling and cross selling that it manages to set in motion, in particular when we insert new, important companies into the perimeter”.
“The evidence we have from internal numbers on the first months of 2024 offer us further evidence on whether the current financial year may see continued growth in revenues accompanied by a good margin recovery“, he added.