Pattern closes 2023 with revenues of 143.4 million euros, up 33.14% compared to the 109.2 million at the end of 2022. The increase highlighted in 2023, underlines the group, is the combined effect of organic growth and the contribution deriving from the acquisitions or increases in shareholdings concluded during 2023. Pattern’s board of directors examined some preliminary consolidated data for the 2023 financial year, not yet subjected to legal audit. The net financial equity is significantly improving thanks to the cash flow generated by operational management and the proceeds deriving from the sale of the business unit of the Turin plant.
“2023 went beyond expectations even with respect to the market – say Luca Sburlati, CEO of Pattern, and Fulvio Botto, president of Pattern -. These results were obtained thanks to the strong attitude of all our companies to work in partnership with customers starting from product development, as well as continuous technological innovation in the design and industrial phases. Our task is to continue following these principles in the coming years in a rapidly changing market.”
Investments at 31 December 2023 amounted to 19.4 million, an increase of 18.3% compared to the 16.4 million at 31 December 2022, following the acquisitions or increases in shareholdings concluded during 2023. Furthermore, among the material investments, there is the purchase of land for the construction of the new headquarters in Turin and the expansion of the building where the Zanni knitwear company (Reggio Emilia), a specialist in the design and production of seamless knitwear, is based .
The net financial position returns positive (cash) for 0.6 million at 31 December 2023, a clear improvement compared to negative 13.8 million at 31 December 2022, thanks both to the positive impact of the cash flow generated by the operational management of the Group, and the proceeds deriving from the sale of the business unit of the Turin plant dedicated to the English brand Burberry.