The Board of Directors of Orsero S.p.A. has approved the Consolidated Results as at 31 March 2023.
Raffaella Orsero, CEO of Orsero, and Matteo Colombini, Co-CEO and CFO of Orsero commented: “The Group ends the first quarter of 2023 with an excellent performance slightly above expectations, essential the contribution of the Distribution BU, despite the market continues to record a general contraction in volumes. The Distribution BU, indeed, in addition to a constant organic growth, consistent with previous years, was positively influenced by the acquisitions of the two French companies Capexo and Blampin, which gave an important boost, both in terms of volumes and in terms of margins. Positive also the contribution of the Shipping BU, which continues to guarantee an exceptional income performance, despite facing an overall scenario that is heading towards a normalization trend following the post-pandemic peaks.
Although the results for the quarter should be viewed with caution given that they refer to only a portion of the year, they show how effective our strategic choices are proving to be and how resilient our business model is in relation to the market and macroeconomic context. We are, therefore, confident that we can reach the targets we set ourselves”.
Consolidated economic summary data as of 31 March 2023
Net sales, equal to about € 347.3 million, are up by about 31.6% compared to € 264.0 million recorded in Q1 2022, with a more than significant growth of the Distribution BU (+33.2%), thanks to the inclusion in the Group’s perimeter of the two new French companies Blampin S.a.s. and CAPEXO S.a.s., and of the Shipping BU (+13.9%). Net of the change in perimeter, the increase of the "like for like" turnover is equal to 8.6%, an excellent result given the overall condition of the EU area.
The Adjusted EBITDA, equal to € 26.2 million, highlights a significant increase of 48.4% overall and 25.4% on a like for like basis, compared to € 17.7 million in Q1 2022, with an excellent Adjusted EBITDA Margin of 7.6%, up by 86 bps compared to Q1 2022. The Adjusted EBIT, equal to € 18.2 million, grows by 71.4% compared to the € 10.6 million achieved in Q1 2022.
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For more information:
Edoardo Dupanloup
Orsero S.p.A.
T. +39 347 4496044
investor.relations@orserogroup.it
www.orserogroup.it