As the data in the financial statements show, Proger spa continues on its virtuous path as a “General Engineer” capable of adapting to continuous and often unexpected economic, social, financial and extraordinary changes such as the pandemic or the Russia-Ukraine conflict.

Proger’s financial results for FY2022 can be considered satisfactory and in line with management expectations, despite the geopolitical and post-pandemic instability of the period. The financial statements under review show an increase in EBITDA (+ € 3.81 million), a slight decrease in net income (- € 1.72 million), an increase in shareholders’ equity (+19.82%) and an increase in revenues, in particular the latter, which amounted to € 110.25 million compared to € 89.41 in 2021 (+23.30%).

The gross operating margin (EBITDA), despite the turbulent global economic scenarios, confirmed and even improved the trend of recent years, reaching 14.67 million euros. The EBITDA margin (EBITDA/production value) was 13.30%. This indicator shows a satisfactory level of remuneration for the activity carried out, also considering that the comparative benchmark of reference is around 10%.

Proger also has an excellent ratio of Net Financial Position (NFP) to EBITDA, both in absolute terms and in relation to the sector to which it belongs; the ratio de quo, equal to 2.14 compared to 2.36 in 2021, summarizes, given the operating margin achieved, the ability to repay bank debt in a limited timeframe and in any case much less than that actually contracted. Finally, it should be noted that Proger’s “book value” has risen sharply to 69.908 million euros compared to 58.343 in 2021.

Proger’s excellent economic and financial health and solidity have been confirmed, as in the past, by Cerved Rating Agency S.p.A., Italy’s first rating agency and among the top five in Europe, which in April 2023 confirmed its public rating of class A3.1, or “Company with solid fundamentals and high capacity to meet financial commitments. Credit risk is low.”

The assignment of this class of merit allows Proger to be placed in the area commonly referred to as “safe” from liquidity risk. It should be noted that the credit rating has improved from “good” to “high” during the current fiscal year.