RELEASE: Esaote Group: The Shareholders' Meeting approves the financial statements as of December 31, 2022

GENOA, Italy, April 28, 2023 /PRNewswire/ -- The Shareholders' Meeting of Esaote S.p.A., meeting today in Genoa, approved the company's financial statements as of 12.31.2022.

Net sales revenue up to 256.5 million euros, 10.9% more than in 2021; EBITDA amounting to 33.6 million euros (4.3% compared to 2021); Group operating income of 9.4 million euros, in line with the previous year; Consolidated net profit of 1.2 million euros, compared to 4 million euros in 2021: these are the main figures of the consolidated Group for 2022.

"In 2022, Esaote reached another important milestone with an increase in sales revenue of almost 11%. The Group confirms its objectives for growth and innovation, positioning itself among the main global players in diagnostic imaging. An even more significant result if we take into account the complex macroeconomic scenario of 2022, characterized by the rise in the costs of raw materials, components, energy and transport, and the difficulties and delays in the production chains.Despite this, we have managed to ensure productive continuity, increase investments in RD and increase sales in the three strategic sectors: ultrasound, MRI and medical IT – commented Franco Fontana, CEO of Esaote S.p.A. "The higher order book at the end of the year, another extremely significant figure, allowed us to start 2023 with Q1 revenue increasing significantly compared to 2022. A confirmation of the validity of the strategy that focuses on technological innovation and growth in high-potential markets."

During 2022, the Esaote Group invested 30 million euros in R&D, which corresponds to approximately 12% of turnover, 4.5% more than the previous year.

In the ultrasonic systems sector, revenue increased by 7.2%, outperforming the average market trend and gaining significant market shares. Specifically, revenue growth is driven by the new mid-high range ultrasound machines launched in the last eighteen months and destined for high-specialty public and private hospitals.

During 2022, the dedicated and open MRI sector recorded a revenue increase of 50.7%: a result that confirms the uniqueness and integrity of the Esaote product range, praised for combining excellent image quality in musculoskeletal applications with ease of installation, patient comfort and low energy consumption. The introduction of Esaote's first open magnet "total body" resonance, the Magnifico Open system, has certainly contributed to the extraordinary result of 2022.

The Medical IT sector - software development for the management of diagnostic processes and quantitative analysis software for cardiovascular applications - grew by 3%, confirming the expansion process undertaken by the Group with the diversification of sales channels and the ability to generate demand for the digital transformation of healthcare.

International markets together represent around 66.4% of sales, Western Europe (18.4%), North America (14.4%) and China (10%). Double-digit revenue growth in Latin America and the Far East. Italy is confirmed as the main market for Esaote.

At the end of 2022, the Group had around 1,250 employees, more than half of whom are in Italy. During the year, the process of strengthening internal resources has continued with the creation of continuous training programs accompanied by well-being support tools and improvement of selection policies both in terms of brand reputation and efficiency, giving continuity to the Academy experience started in 2021.

After joining the United Nations Global Compact initiative, in 2022 Esaote S.p.A. published its first Sustainability Report, on the topics of innovation, quality, integrity and social. In environmental matters, the company has acted through regeneration projects, rational use and optimization of resources and attention to the environmental impact of logistics, with a commitment to continuous improvement.

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