(Alliance News) - The board of directors of Bifire Spa on Tuesday reviewed preliminary figures for the first half of the year, during which it reported a value of production of EUR21.8 million, down 3.6 percent from the same period in 2022, which had partly benefited from government incentives.

Ebitda reached EUR5.5 million, registering a 10 percent growth over the first half of 2022, "a particularly positive figure in the difficult market environment in which Bifire operates," the company specified in a note.

Ebitda margin rose to 25.2 percent, up from 22.0 percent in H1 2022 and 20 percent in full-year 2022, "settling at historical levels of excellence."

The strong increase in profitability, Bifire adds, "was driven in part by the reduction in energy and raw material costs, but above all by the careful supply management policy and optimization of the production process, also laying the foundation for further improvements in the medium to long term."

Bifire is down 1.2 percent at EUR3.24 per share.

By Chiara Bruschi, Alliance News reporter

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