Somec, 10 million red in the 2023 budget

SAN VENDEMIANO (TREVISO) – Growing revenues but notable loss in the 2023 budget of Somecsociety of architectural coverings special and gods naval fittings of San Vendemiano, which closes the financial year by resorting to a new agreement with the financing institutions. The Venetian acronym, present on the Italian Stock Exchange list, recorded during the year revenues of 371 million (+12.8%) but must also score a red by 10.4 million (against a profit of 0.5 million in 2022) due to “extraordinary circumstances” and unforeseen events linked to non-recurring events, and concerning two subsidiary companies. «Both – the administrators specify to Ansa – refer to two contracts signed before the entry of the two companies into the group, which gave rise to a revision of the expected margins also due to the increase in costs incurred». The first of the main complications concerns «a contract concluded during the last quarter of 2023 by the subsidiary Total Solution Interiors and concerning the design, production and installation of private areas of various types and common areas on a cruise ship at a shipyard naval. As a result of some critical issues encountered in execution the Group supported significantly higher costs compared to what was estimated, generating an operating loss in the second half of 2023 of approximately 4.5 million”. Another problem concerns Bluesteel, a company acquired in 2022 and operating in the civil facade market.

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