ABC Company closes 2022 at a loss; business plan approved

(Alliance News) – The board of directors of ABC Company Spa on Thursday approved the draft financial statements for the year ended Dec. 31, 2022, reporting a loss of EUR373,968, an improvement over the half-year loss reported as of June 30, 2022.

Revenues amounted to EUR365,853 and consisted of advisory activities and re-billing of costs in connection with the investment concluded during the year as well as gains realized from the sale of financial assets that did not constitute fixed assets, the society explained in a note .

Shareholders’ equity as of Dec. 31, 2022 is about EUR17 million from EUR14.3 million in 2021.

At the meeting, the board also approved the new business plan for the years 2023-2025, which envisages business development based on three directives: capital investments of up to 4 SMEs for each year of the Plan; industrial and strategic consulting activities on investee and investee companies; and recurring revenues from management fees.

In line with the assumptions in the new 2023-2025 business plan, “the company is reviewing several investment files,” the note said.

The board also resolved to propose to the shareholders’ meeting a new authorization to purchase and dispose of treasury shares for a maximum value of EUR 1.0 million.

ABC Company’s stock is unchanged at EUR 3.30 per share.

By Chiara Bruschi, Alliance News reporter

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