Almawave - revenues up | Almawave
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14 March 2024

Almawave - revenues up

Almawave S.p.A., a company listed on the Euronext Growth Milan market (Ticker: AIW) and part of the Almaviva Group, a Data & Artificial Intelligence player, today approved the 2023 separate financial statements and consolidated financial statements, reporting revenues of Euro 57.5 million, up 20% on the previous year.

Chief Executive Officer, Valeria Sandei, stated: “Revenues in 2023 continued to grow strongly. The Almawave Group, operating in the highly strategic Artificial Intelligence segment, also outperformed market expectations both in terms of margins and cash generation, which are key aspects of our industry. The development of AI technologies and applications, the certification of processes and solutions in a range of important areas, such as healthcare and the focus on sustainability as central to our objectives, allow us to look to the future with optimism”.

“We today present” added Sandei, “draft financial statements which provide a snapshot of a solid enterprise which is further diversifying its target vertical markets and geographies. Our M&A journey continues, with a focus on the synergies between The Data Appeal and the Spanish Mabrian, while strengthening our international Tourism market position, and in fact taking a leadership role. We have also focused on strategic sectors and those serving a range of National Recovery and Resilience Plan areas (NRRP). This effort will continue over the coming years. We have developed strong synergies in the Water sector, also on the basis of the lines of action of the parent company Almaviva. The strategic path continued in AI for healthcare, achieving a major certification of our algorithms, among the first in Europe. Our focus on ESG topics has also steadily grown: all sustainability targets set for 2023 have been achieved and the major forward-looking goals, linked to the 2030 Agenda, chart a clear path forward for development”.

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