Convergenze. Società Benefit Reports Full Year 2023 Earnings

Convergenze. Società Benefit (BIT:CVG) Full Year 2023 Results

Key Financial Results

• Revenue: €22.9m (down 19% from FY 2022).
• Net income: €511.9k (up from €799.2k loss in FY 2022).
• Profit margin: 2.2% (up from net loss in FY 2022). The move to profitability was driven by lower expenses.

All figures shown in the chart above are for the trailing 12 month (TTM) period

Convergenze. Società Benefit Earnings Insights

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Telecom industry in Italy.

Performance of the Italian Telecom industry.

The company's shares are up 11% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 3 warning signs for Convergenze. Società Benefit you should be aware of, and 1 of them can't be ignored.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.