Euro 764.6 million
Adjusted revenue in 2022 of Euro 764.6 million, +17.0% on the previous year (Euro 653.5 million in 2021), +10.1% at like-for-like exchange rates. Asia significantly up (+70.2%), in addition to Central and South America (+59.6%), thanks to strong growth, particularly in the School & Office segment, in India and Mexico, with Europe substantially flat on 2021, and North America reducing 2.9%;
Revenue from sales and services of Euro 764.6 million increased on 2021 by Euro 111.1 million (+17.0%). Net of exchange gains of Euro 45.3 million (mainly concerning the US Dollar, the Indian Rupee and the Mexican Peso, partially offset by the weakening of the Turkish Lira and the Argentinian Peso), organic growth was Euro 65.8 million (+10.1%).
Euro 110.3 million
Adjusted EBITDA in 2022 (excluding the IFRS 16 effects) of Euro 110.3 million, +1.1% (-2.3% at like-for-like exchange rates) on 2021 (Euro 109.1 million), with a 2022 margin of 14.4% (16.7% in 2021). The increase in product sales prices and the continued focus on managing G&A costs partially offset raw material and transport cost inflation and increased personnel expense, particularly in the United States, India and Mexico in support of revenue growth. The lesser EBITDA than revenue growth is also due to the different sales mix and the increasing contribution to Group revenue of Asia and Central and South America, which today account respectively for 17.2% and 9.8% of the total, nearly tripling on 2021 (6.3% and 3.7% respectively)
Euro 42.8 million
ADJUSTED NET PROFIT
Adjusted Net Profit of Euro 42.8 million (excluding the IFRS 16 effects). Adjusted Group Net Profit of Euro 37.7 million, due to the growing contribution of minorities, increasing from Euro 1.6 million in 2021 to Euro 5.1 million, thanks to the strong growth of the Indian subsidiary;