Financial Results H1 2023: The Group’s Numbers and Progress
The first half of 2023 closed with €971.0 million in revenue, a decrease of 9.9% compared to the same period in 2022, and €150.9 million in EBITDA (-9.2% from 2022). However, the EBITDA Margin (15.5%) remains in line with the previous year, and the performance is significantly above the industry average.
Except for 2022, which was an exceptional year, when comparing the numbers to 2021, there is a consistent growth trend. Revenue has increased by +28.9% (it was €753.5 million in 2021), and EBITDA has increased by +49.3% (it was €101.1 million in 2021). The same trend is evident in the data for the last 12 months, from June 2022 to June 2023.
In the words of CEO Marco Nespolo: “Despite a challenging market, we have managed to maintain profitability thanks to a solid strategy that, over the past four years, has focused on an increasingly premium offering, great agility in adapting production to demand, and extreme attention to cost management and raw material procurement while safeguarding employment levels. Fedrigoni continues to pursue its strategy.”
