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STATEMENT: Esaote Group: the Shareholders' Assembly approves the financial statements as of December 31, 2023

(Information sent by the signatory company).

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STATEMENT: Esaote Group: the Shareholders' Assembly approves the financial statements as of December 31, 2023

(Information sent by the signatory company)

GENOA, Italy, April 28, 2024 /PRNewswire/ -- The Shareholders' Meeting of Esaote S.p.A., meeting today in Genoa, approved the company's financial statements as of 12/31/2023.

All the main consolidated figures of the Group for the financial year 2023 increase: net sales income of 273.2 million euros (6.5% compared to 2022); EBITDA of 41.7 million euros (24.5% compared to 2022); Group operating income of 13.4 million euros (43% compared to 2022); Consolidated net profit of 6.2 million euros, quadrupled compared to 2022 (1.2 million euros).

"The results for fiscal year 2023 confirm further progress of the Group, which continues to expand, as evidenced by the average annual growth of 7.6% that we have achieved over the last four years - commented Franco Fontana, CEO of Esaote S.p.A. The strength of the business, which is the growth in all product lines, the cost optimization process and the focus on production processes, the continuous investment in R & D for the introduction of new products and technologies, place Esaote among the main global players in medical imaging. Despite a complex global economic scenario, we look to the future with confidence, confirming our strategy focused on innovation, quality, people, product portfolio differentiation and growth in high potential markets."

During 2023, the Esaote Group has once again increased its investment in R&D by 9.8%, reaching 32.9 million euros, 12% of turnover.

Important results were obtained in ultrasound systems, whose revenues increased by 9.7%, allowing the Group to acquire important market shares in strategic areas and segments. Revenue growth was driven by new high-end cart ultrasound systems, in particular MyLabTMX90 launched in early 2023, which enabled the Group to successfully enter technologically competitive market segments.

2023 was an extremely positive year for the open and dedicated MRI sector, growing by 3.3% and recording the new sales record in Esaote's history: the Magnifico Open "total body" open magnetic system drove growth of income attracting interest in all markets, thanks to its uniqueness. Success is linked to the integrity of Esaote's product range, which combines excellent image quality in musculoskeletal applications with ease of installation, patient comfort and low power consumption.

The medical IT sector - development of software for the management of diagnostic processes and quantitative analysis software for cardiovascular applications - with a sales increase of 3.2% continued its growth path based on the ability to generate demand for transformation digital healthcare.

For Esaote, international markets represent 64.5% of total revenue, namely: Western Europe (17.7%), North America (13.1%) and China (8.5%). Significant sales growth in Latin America and APAC.

At the end of 2023, the Group has around 1,250 employees, more than half of whom are in Italy. The process of strengthening internal resources continues with the creation of continuous training programs accompanied by tools to support well-being. The commitment to sustainability continues across all ESG areas.

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