The Board of Esprinet, a group active in Southern Europe in the consultancy, sale and rental of technological products and IT security, examined the preliminary final data as at 31 December 2022.
In 2022 revenues from contracts with customers amounted to 4,684.2 million, substantially in line with the result of the previous year (4,690.9 million). The last quarter recorded revenues of 1,466.5 million, down by 1% compared to the same period of the previous year (1,480.1 million).
Italy, with revenues of 2,751.7 million, decreased by 4% compared to 2021 in a distribution market which, according to the English research company Context, with a turnover of 9.5 billion euros, is almost in line with last year. In Spain, the Group’s revenues amounted to 1,749.6 million, +4% compared to 2021, in line with a market that reaches 7.0 billion in revenues. Portugal is worth 126.5 million, +18% compared to 2021, and further consolidates its share in a market that marks a +10%, bringing the total revenues achieved by the Group in the Iberian Peninsula to almost 1.9 billion.
The Gross Commercial Margin amounted to 243.8 million, +5% compared to 2021 (232.9 million), essentially due to the increase in the percentage margin (5.20% in 2022 against 4.96% in the previous year ), a consequence of the greater incidence of high-margin product categories which, in line with the Group’s strategy, increase their weight on revenues to 42% from 38% in 2021
Adjusted Ebitda amounted to 90.8 million, +5% compared to 86.1 million in 2021 and is calculated gross of non-recurring costs of 2.8 million incurred by the parent company Esprinet SpA in relation to the takeover bid voluntary holding of all the ordinary shares of the Italian company Cellularline.
The net financial position is negative by €83.0 million, an improvement compared to 30 September 2022 (negative by €382.5 million) and worsening compared to 31 December 2021 (positive by €227.2 million). The value of the punctual net financial position as at 31 December is influenced by technical factors such as the seasonality of the business, the trend of “without recourse” assignments of trade receivables (factoring, confirming and securitization) and the dynamics of the behavioral models of customers and suppliers in different times of the year.
Alessandro Cattani, CEO of Esprinet: “We close 2022 with renewed satisfaction, setting a new profitability record with an Adjusted Ebitda, up 5% to 91 million and with revenues almost stable at 4.7 billion euros. The fourth quarter, in particular, marks a record growth in profitability of 29% despite the presence of slightly decreasing revenues due to the sharp reduction in demand for PCs in the consumer sector compared to the previous year. Driving the results was certainly the Group’s strategy of focusing on high-margin business lines which now account for 42% of total revenues (38% in 2021)”.