(Alliance News) - The board of Acquazzurra Spa on Friday approved the half-year financial report as of June 30, reporting a profit of EUR212,000 from a loss of EUR278,000 in the first half of the previous year.

Value of production amounted to EUR10.8 million, down from EUR7.8 million in the same period of 2022. Contributing factors were good results from revenues from the B2C sales channel, up about 29 percent from the first half of 2022, to EUR1.01 million from EUR790,000, driven by an increase in point-of-sale revenues to EUR910,000 from EUR670,000.

Ebitda is EUR630,000 versus a negative EUR210,000 in the first half of 2022. "The marked improvement," the company points out, "can be attributed to the performance of revenues, which more than offset the growth in operating costs related to the expansion of the customer portfolio and the increased purchase and sale of advertising space that characterized the first half of 2023.

Ebit is EUR372,000 from a negative EUR364,000 in the same period 2022.

Net financial debt as of June 30 was EUR270,000, a strong improvement from the December 31, 2022 figure of EUR870,000. The improvement can be attributed to an increase in cash generated from operations in the reporting period, as well as a reduction in tax receivables.

Acquazzurra is flat at EUR9.90 per share.

By Chiara Bruschi, Alliance News reporter

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