The 2022 financial year closed with a net profit of 2.14 million euro and operating revenue that, for the first time, exceeded 50 million euro (52.33 million vs. 44.82 million in 2021), also thanks to the extension of the scope of terminals operated with the development of the Marzaglia terminal.
This result is particularly noteworthy because it was achieved in a global scenario characterised by threats and uncertainties, from the outbreak of the Russian-Ukrainian conflict to the continuing inflationary pressure caused by the soaring cost of energy, which in 2022 caused about 580 thousand euro more in fuel costs and about 290 thousand euro more in electricity costs for lighting and powering the gantry cranes in Verona, which the company met thanks to the price adjustment applied between January and April 2022 for services provided to customers.
Management's objectives during the financial year included the continuation of the investment policy in tangible assets started in previous years (in 2022, 3 new self-propelled cranes in Segrate and one in Marzaglia, as well as one new road tractor in Verona and the tender for the purchase of a further 9 self-propelled cranes in 2023-2024 was published) and the implementation of the “Industry 4.0” hardware and software investments. At the organisational level, the company continued to expand its workforce (+20.92 full-time equivalents compared to the previous year) and to use more flexible employment systems to meet specific production needs.
In 2022, activities were completed to expand the range of services offered to customers, particularly with regard to customs services incidental to the management of maritime traffic at the Marzaglia, Segrate, Bari and Bologna terminals, by obtaining AEO (Authorised Economic Operator) qualification on 16 February 2022. In the latter part of the year, the company also started the process of obtaining customs authorisations at the Verona terminal.
The increase in operating revenue (+17%) compared to 2021 and an EBITDA/operating revenue ratio of 12.75% represent elements that reflect the development targets underpinning the 2022 activities and intended to create value and demand in the years to come.
|MAIN OPERATING, CASH FLOW AND CAPITAL FIGURES|
|thousands of €||thousands of €||thousands of €|
|Gross operating margin (EBITDA)||6,681||4,156||2,525||61%|
|Operating result (EBIT)||3,385||2,149||1,236||58%|
|Net invested capital (NIC)||23,287||19,066||4,221||22%|
|Net financial position (NFP)||-4,434||-6,519||2,085||-32%|
|Capital expenditure for the year||2,526||4,447||-1,921||-43%|
|Total cash flow generated/absorbed during the year||2,080||3,086||-1,006||-33%|
|MAIN FINANCIAL RATIOS|
|EBITDA MARGIN (EBITDA/OPERATING INCOME)||12.75%||9.27%|
|ROS (EBIT MARGIN)||6.46%||4.79%|
|STAFF COSTS/OPERATING INCOME||23.00%||24.00%|
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