Key annual financial data
In 2022 we continued along our
growth path, recording an increase in all the main economic indicators and
reaching record levels of revenues, EBITDA and net profit. For the first time
in 72 years, revenues exceeded 2 billion euros and EBITDA was above 500 million
euros, with double digit growth in net profit
2,119.1 million euros, an increase of 8.8% at current exchange rates and of 6.8% at constant exchange rates compared to 2021. This performance is attributable for 3.0% to above market organic growth and for 3.8% to acquisitions, mainly related to Bay Audio. The foreign exchange effect was positive for 2.0% mainly driven by the strengthening of the US dollar against the Euro.
recurring was 525.3 million euros, an increase of 8.8% compared to 2021. The recurring EBITDA margin came in at 24.8%, in line with the record level reported in 2021. This profitability was achieved in a highly inflationary environment thanks to timely and effective cost management measures and even after significant investments in the business.
recurring reached 183.3 million euros, 4.6% higher than the 175.2 million euros recorded in 2021, despite higher financial expenses, even though most of the long-term debt is at fixed rate.
Performance by region
Discover the performance across all the geographic regions compared to 2021.
SOLID REVENUE performance
Here you can navigate our interactive graph.
In the table above:
- 2018 data is presented with the application of IFRS 15 accounting principle and without the application of IFRS 16 accounting principle
- Since 2019, data is presented with the application of IFRS 16 accounting principle
- Since 2020, data is presented without the contribution of the Elite business that was discontinued at the end of 2021