The Ariston group, active in renewable solutions for water and space heating, today approved the consolidated half-year financial statements as at 30 June 2022. Specifically, the period closed with revenues of 1,134.5 million euros, with a growth of 24.1% compared to what was achieved in the first half of 2021, supported by the growing demand in Europe for sustainable heating systems. In the first six months of 2022, Ebitda stood at 132.7 million euros, an increase of 12.7% compared to the same period of 2021.
In the first half of the year, net income was 66.3 million euros, compared to 81.3 million euros in the first half of 2021 which included a one-off tax benefit of 22 million euros. The company went from € 149 million in net cash at the beginning of the year to the current € 30.6 million in net debt, essentially due to the increase in working capital, the disbursements for acquisitions, and the payment of dividends.
Finally, the board of directors approved a purchase program for a maximum of 1,500,000 ordinary shares to service the long-term incentive plans, and resolved to grant the Executive Chairman the powers to exercise the plan in compliance with laws and regulations in force.
Meanwhile, in Piazza Affari, the Ariston Holding stock is currently moving down by 2.09%, thus finding itself at 8.18 euros.