TraWell Co. SpA Approves 2023 Financial Plan Showing Significant Improvement From 2022: Revenues €30.3M, EBITDA €10.2M (+14%), Net Profit €3.3M (+159%)
02 Mayo 2024 - 12:00AM
Business Wire
TraWell Co. S.p.A. (Borsa Italiana, Ticker: TWL, OTCQX
New York, Ticker TRWAF), a global leader in protection services,
luggage storage, and ancillary travel products and services
("TraWell" or the "Company"), announced today that its Board of
Directors has approved the financial statements for the year ending
December 31, 2023.
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Preliminary Results show a strong
improvement across all KPIs (Graphic: Business Wire)
Financial and Asset Results Analysis as of December 31,
2023:
Revenues reached €30.3 million, an increase of €4.0
million (+15% compared to the same period in 2022), confirming the
company's international diversification. Europe is the group's
largest market, accounting for approximately 53% of revenues,
followed by America with 40%, and Asia (including the Russian
Federation) with about 7%.
EBITDA was €9.9 million, up €0.9 million from 2022. The
EBITDA margin stood at 32.6%. This result was driven largely by
€5.7 million from operations at managed airports, which benefited
from the full recovery of passenger traffic and new concessions
activated during 2023.
Adjusted EBITDA amounted to €10.2 million, calculated by
deducting extraordinary and non-recurring items from EBITDA,
related to employee transaction costs in Italy, the United States,
and France, and costs for extraordinary managerial
consultations.
EBT (Earnings Before Tax) was positive at approximately
€4.2 million. This figure is influenced by the items impacting
EBITDA, as well as depreciation of €0.7 million, right-of-use asset
depreciation of €3.4 million, provisions of €0.1 million, and net
financial charges of about €1.5 million.
The Net Result was positive at approximately €3.3
million, an increase of €2.0 million compared to the same figure in
2022.
Rudolph Gentile, President and CEO of TraWell Co.,
stated: "In light of the positive results for the year ending
December 31, TraWell Co. is in a position to consider new M&A
operations aimed at increasing revenue, EBITDA, and the portfolio
of services offered. Our goal is to become increasingly a
high-margin airport services aggregator."
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Edoardo Zarghetta Investor.relations@trawellco.com