Esaote Group: Shareholders Approve Financial Statements for 2022!

Today, Esaote S.p.A. held its Shareholders’ Meeting in Genoa, culminating in the approval of the company’s financial statements for the year ending 31.12.2022. With this decisive vote, stakeholders have expressed their confidence in the company’s success moving forward.

The Group’s consolidated results for 2022 are impressive, with net sales revenues increasing by 10.9% to €256.5 million and EBITDA rising to 33.6 million euros, a 4.3% increase on 2021. Group operating income remained in line with the previous year at 9.4 million euro, while consolidated net profit decreased to 1.2 million euro, down from 4 million euro in 2021.

In 2022, Esaote achieved another remarkable milestone with an impressive 11% increase in sales revenues, positioning itself as one of the world’s leading players in diagnostic imaging. Despite the challenging macroeconomic environment of rising costs of raw materials, components, energy and transport, and production chain delays, the Group managed to maintain production continuity, invest in R&D and experience increased sales in the three strategic sectors: ultrasound, magnetic resonance imaging and Medical IT.

This was reflected in the higher backlog at the end of the year, which allowed for a sharp increase in revenues in the first quarter of 2023. This success is testament to the success of the Group’s strategy focusing on technological innovation and growth in high-potential markets.

In 2022, the Esaote Group made a significant commitment to research and development, investing 30 million euros – an increase of 4.5% compared to the previous year, and representing 12% of the company’s total turnover. This demonstrates the Group’s commitment to continual innovation and progress.

Revenue growth in the ultrasonic systems sector skyrocketed by 7.2%, far exceeding the average market trend. This can be attributed to the successful launch of new medium-high range ultrasound scanners in the past eighteen months, which have been widely adopted by specialized public and private hospitals.

In 2022, Esaote’s dedicated and open MRI sector saw a remarkable 50.7% increase in revenues, a testament to the quality, ease of installation, comfort, and energy efficiency of the brand’s products.

Leading the way was the Magnifico Open system, Esaote’s first open magnet “total body” resonance, which proved to be a game-changer in the medical imaging industry. Its success was a major contributor to the impressive performance of the sector.

The Medical IT sector has seen a remarkable 3% growth, further solidifying the Group’s commitment to digital transformation of healthcare. This was achieved through diversified sales channels and the development of software for the management of diagnostic processes and quantitative analysis software for cardiovascular applications. These improvements have proven to be an incredible success, creating an ever-increasing demand for the Group’s services.

Esaote has seen tremendous success in the international market, accounting for a whopping 66.4% of its total sales. Europe, North America, and China have all contributed to this success with 18.4%, 14.4%, and 10% respectively. This success has also extended to Latin America and the Far East, where double-digit revenue growth has been seen. Italy remains the largest contributor to Esaote’s success, firmly cementing its place as the leading market.

By the end of 2022, the Group had around 1,250 employees, with over half based in Italy. Throughout the year, the Group worked hard to improve their internal resources, providing employees with continuous training programs and welfare support tools, as well as enhancing their selection policies to build a more reputable and efficient brand. This builds on the experience of the Academy launched in 2021.

In 2022, Esaote S.p.A. took a major step in its commitment to sustainability by joining the United Nations Global Compact initiative. To demonstrate its dedication to this cause, the company published its first Sustainability Report, focusing on innovation, quality, integrity, social responsibility and the environment.

Esaote put its words into action by implementing regeneration projects, optimizing resource usage and reducing the environmental impact of logistics. The company pledges to strive for continuous improvement in these areas.

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