The Board of Directors of ILPRA has approved the Annual Financial Statements and the Consolidated Financial Statements as of December 31, 2023.

Maurizio Bertocco, President and CEO of ILPRA, stated, “We are concluding another year with a growth trend, despite 2023 not being particularly easy for both the Italian and global economies. Due to the dearth of raw materials and spare parts, inflation, increased bank rates, and the geopolitical situation described as a ‘fragmented third world war,’ the group has strengthened, grown, acquired two strategic participations, opened a new commercial branch in Saudi Arabia, and set the stage for the opening of another branch in South Korea. The group has leveraged the unfavorable period to further structure itself and present an even stronger proposition to the market, both commercially and productively. In 2024, we will continue the M&A policy initiated with the listing and internal growth, without neglecting the structuring and integration of subsidiaries. The excellent results of the fiscal year allow us to confirm the distribution of dividends for the fourth consecutive year.”

Revenue reached €62.0 million, marking a 27.4% increase from €48.7 million in 2022. Revenues generated in Italy amounted to €24.0 million compared to €18.6 million in 2022, representing 39% of the total (38% in 2022). Overseas revenues stood at €38.0 million, a 27% increase from €30.1 million in 2022, representing 61% of the total (62% in 2022).

The Value of Production amounted to €69.4 million, up by 22.2% from €56.8 million in 2022, primarily due to the growth in sales revenues and inventory, which increased by €3.6 million. This growth is mainly attributed to Ilpra Spa and Macs Srl, along with an increase in internal work assets by €0.9 million, investments in R&D aimed at developing new packaging technologies.

The Gross Operating Margin stood at €13.9 million, up by 14.0% from €11.2 million in 2022, corresponding to an EBITDA margin of 22.4% compared to 25.0% in 2022. This reduction is mainly due to the increase in personnel and service costs incurred by the Group during the fiscal year, aimed at structuring both the parent company and its subsidiaries to attack the market with a more solid structure and, above all, with a new team spirit.

The Net Operating Margin amounted to €8.3 million, a 0.3% increase, in line with the €8.8 million from the previous year, after depreciation, provisions, and write-downs of €4.6 million, up from €3.3 million in 2022. The EBIT margin stood at 15.0%, down from 18.3% in 2022. The significant increase in depreciation is mainly attributable to the Consolidation Difference generated by the acquisition of the 2 new participations (Pentavac S.r.l. and IDM Automation S.r.l.).

Profit before Taxes amounted to €8.3 million, in line with 2022 (€8.3 million).

Net Income stood at €6.5 million, also in line with 2022 (€6.5 million in 2022), after taxes of €1.9 million (€1.8 million in 2022), while the Net Income attributable to the Group amounted to €4.9 million (€5.2 million in 2022); the dilution of the Group’s profit is related to the increase in minorities following the new acquisitions. The Net Profit margin stood at 10.5%, compared to 13.3% in 2022.

Net Financial Debt is cash negative at €15.5 million, an increase from the positive cash of €0.3 million as of December 31, 2022, with liquid assets of €14.7 million (€17.3 million as of December 31, 2022). The highlighted indebtedness is the result of investments made during the fiscal year: the two aforementioned M&A operations worth €7.7 million, the increase in inventory by €5.7 million, and the application of the Financial Method impacting €4.0 million.

The Net Worth amounted to €34.9 million (€29.5 million as of December 31, 2022), of which €29.0 million pertains to the Parent Company (€25.9 million as of December 31, 2022).

During the fiscal year 2023, the Group continued its R&D activity for technological innovation aimed at significantly improving production techniques and the range of company products, focusing on technologies increasingly oriented towards energy efficiency, environmental sustainability, integrated production models, and IoT technologies that enable offering customers predictive maintenance services.

Discover More: