THE BOARD OF DIRECTORS APPROVES CONSOLIDATED REVENUES AS AT 30 SEPTEMBER 2023
In the third quarter of 2023, the Group continued to pursue its growth strategy consolidating its organisational structure and operating model
The Board of Directors of Antares Vision S.p.A. approved the Group’s consolidated revenues for the first nine months of 2023 / third quarter of 2023.
Emidio Zorzella, Chairman and Joint-CEO of Antares Vision Group, commented: “In the third quarter of 2023, the Group continued to pursue its growth strategy, recording a +20.5% Y/Y increase in revenues, despite the increasingly complex and uncertain global macroeconomic scenario, which has witnessed an escalation of world conflicts and inflationary pressure. To manage the changes underway and to best seize market opportunities, the Group is consolidating its organisational structure and operating model, which will enable to:
- direct its efforts to the profitability of the projects;
- more accurately monitor and contain the costs of orders during their implementation;
- improve and shorten production and lead times of projects for its customers;
- review the credit policy and strengthen the recovery procedures, to decrease exposure to customers;
- standardise its portfolio of solutions.
Lastly, internal reporting was reshaped for greater accountability of managers at all levels, also through the implementation of new incentive plans. At the same time, the past few months have benefited from the implementation of the new ERP, which has made both the reporting system and constant KPI monitoring more efficient. Based on the results obtained in the first nine months of 2023, and despite the continuing challenging and ever-changing context, we believe that we can confirm the Guidance for FY 2023, which envisages revenues of €245-250m and an EBITDA of €37-40m”.
Massimo Bonardi, Joint-CEO of Antares Vision Group, commented as follows: “Thanks to our technological ecosystem of solutions, we are able to better grasp market opportunities. We recently received the 2023 Innovation Award at the International Cibus Tec Exhibition, awarded to companies that developed inspiring innovative solutions in the food sector, actively contributing to progress. The award was received for our Microwave system, which exploits electric fields, overcoming the limitations of current control instruments such as X-Rays and Metal Detectors, which do not identify all contaminants. I would also like to mention that our Automated Hospital Cart, one of the most advanced systems in the world for the replenishment, dispensing and traceability of medicines, was selected by ADI Design Index in the «design for work» category”.