(Alliance News) - Bifire Spa on Tuesday reported that it closed the first half of the year with profit up 13 percent to EUR3.5 million from EUR3.0 million in the same period last year.

As of June 30, production value stood at EUR21.8 million, down 3.6 percent from EUR22.6 million in 2022.

Revenues stood at EUR20.3 million in the period, down from EUR21.7 million in 2022.

Ebitda in the period stood at EUR5.5 million, up 10% from EUR5.0 million as of June 30, 2022. Ebitda margin increased to 25.2 percent from 22.0 percent in 2022.

Ebit amounted to EUR4.5 million, up 9.4% from EUR4.1 million in the first half of 2022.

Net financial position is balanced at minus EUR100,000 compared to EUR1.5 million as of Dec. 31, 2022.

The company said it is ready to launch its first advertising campaign on MFE-MediaForEurope NV TV channels with "the aim of strengthening brand awareness and sales of new thermal insulation products," as the company explained in a note.

Looking at the international situation, "Against the backdrop of global scenarios and domestic policies, a temporary period of decline in the construction industry and therefore also in the company can be expected. However, the significant investments put in place by Bifire will enable it to counter the market trend," the press note reads.

Bifire is flat at EUR2.84 per share.

By Claudia Cavaliere, Alliance News reporter

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