CNPF delivers resilient growth despite a high base and inflationary pressures in 1Q23; Revenues increase by 6% and EBITDA improves by 7% year-on-year
Earnings before interest, taxes, depreciation, and amortization (EBITDA) as a percentage of sales was sustained at 14.7%, modestly improving by 20 basis points year-on-year, on the back of optimized OPEX spending. As expected, gross margin contracted to 23.6%, due to the inventory carryover from 2022, but efficient operations led to a sustained net profit margin …