Draft individual and consolidated financial statements as of 31 December 2023

Milan, 19 March, 2024 – Growens S.p.A. – GROW (the “Company” or the “Issuer” or “Growens”), a company admitted to trading on the multilateral trading facility Euronext Growth Milan and operating in the cloud marketing technology field, has announced today that the Board of Directors passed a resolution to approve the draft individual and consolidated report for the full year ended on 31 December 2023, prepared in compliance to international accounting standards (IAS/IFRS). The approved data will be submitted to BDO and to the Board of Statutory Auditors for their review. 2 Consolidated figures show stable revenues for FY2023 at 75.1M EUR vs. 77.0M EUR in FY2022 (-2%); and -139% for FY2023 EBITDA at -0.6M EUR vs. 1.4M EUR in FY2022, for the increased investment in Beefree’s development.

“In the 2023 fiscal year, a path of significant transformation was completed for the Group, with the divestiture of the historic Email Service Provider activities (including MailUp+Contactlab, Acumbamail, and Globase) and Datatrics. We sincerely thank the teams that worked to finalize these operations within the set timelines with excellent results. We believe that the partial voluntary tender offer on our own shares completed in December 2023 and the coming extraordinary dividend represent a significant opportunity to distribute the value created to market investors who have accompanied us so far in our development project.”
Matteo Monfredini, Chairman and founder of Growens

“We are proud to start 2024 in the spirit of transformation and focus. The sale of the Email Service Provider activity and Datatrics has allowed Growens to focus on the development of the American business unit Beefree, backed by significant financial availability and high-level professionalism. The main drivers are confirmed: the primary focus on organic growth with investments in Sales&Marketing, aimed at increasing brand awareness, and in Research&Development, with the implementation of both incremental and disruptive innovations such as new connectors and artificial intelligence; from the M&A perspective, the scouting for targets that are synergistic with the company’s offering, in terms of products, technology, human resources, or to support go-to-market initiatives. In light of a three-year investment plan, we commit to respecting the ‘Rule of 40’ in the medium to long term.”
Nazzareno Gorni, CEO and founder of Growens

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