(Alliance News) - The board of directors of Jonix Spa on Thursday approved the half-year financial report as of June 30, which closed with a loss of EUR620,000 compared to a positive figure of EUR20,000 as of June 30, 2022.

Value of production was EUR490,000 compared to EUR2.2 million as of June 30, 2022. Revenues were EUR530,000, down from EUR1.25 million as of June 30, 2022.

"As was already evident in fiscal year 2022, the first half of the year saw a decrease in revenues and a shift of revenues from the Consumer area to the Business area in a market environment made difficult by an insufficient awareness of the value of air quality ended the pandemic effect, the expensive energy and the Russia-Ukraine war," the company note reads.

Ebitda stood at a negative EUR430,000 compared to EUR210,000 as of June 30, 2022.

"The change in Ebitda was mainly affected by the decrease in revenues. Management already implemented a cost reduction policy in the 2022 financial year in order to make them consistent with the difficult dynamics of this period," the company writes in the released note.

Ebit is a negative EUR610,000, compared to EUR50,000 as of June 30, 2022, after depreciation and amortization of EUR173,000, up from EUR166,000 as of June 30, 2022, "mainly due to the capitalization of patent costs," the company explains.

Net financial position is EUR150,000, an improvement from December 31, 2022 when it was EUR450,000 mainly due to an increase in cash on hand due to the collection of customer receivables, repayment of VAT credit, and payment of bank loan installments at UniCredit bank and Credem.

Jonix on Thursday trades in the green by 1.3 percent at EUR0.63 per share.

By Maurizio Carta, Alliance News reporter

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