(Alliance News) - Sia Spa announced Tuesday that its board of directors approved the half-yearly report as of June 30 reporting a profit of EUR241,000 up 77 percent from a net profit of EUR136,000 recorded in the first half of 2022. In addition, the backlog as of June 30 was EUR36.9 million, up 36 percent from EUR27.1 million in the same period last year.

Value of production amounted to EUR7.5 million, up nearly 21 percent from EUR6.2 million in the same period last year.

Ebitda of EUR664,000 is up 66% from EUR400,000 in the first half of 2022.

Ebit is EUR403,000 up from EUR218,000 in June 30, 2022.

Net cash position is EUR88,000 compared to a debt position of EUR1.1 million as of December 2022.

During the meeting, the board also approved guidance for the full year 2023, during which it expects a value of production between EUR16.5 million and EUR17.0 million, and Ebitda between EUR3.5 million and EUR3.8 million.

"Despite the scenarios of uncertainty characterizing the macroeconomic environment," the company writes in a note, "the prospects related to the National Recovery and Resilience Plan, mainly in Energy and Mobility Infrastructure, represent a terrain on which the company intends to settle its growth path, which includes three main strategic directions: Recruitment of new talents, aimed at increasing and diversifying specific know-how; structural partnerships with universities and specialized centers, including through the co-financing of PhDs aimed at the development of new technologies aimed at the areas of interest; and growth by external lines and the establishment of university spin-offs."

Maurizio Ciardi, president and CEO of La Sia commented, "The first half of the year confirms the positive business trend, which is developing both with reference to our core verticals and with reference to the new industries that will characterize our strategic path. In addition to the significant growth in economics compared to the same period last year, we are extremely satisfied with the consolidation of the backlog, which allows us to be able to plan for more than two years of activity and consequently to be able to direct investments on talent, research and development and expansion of the operating machine. In light of these elements, we are resolute in expressing ambitious goals on the year-end, with growth in terms of production value and a relative Ebitda margin that we believe we can confirm at over 20 percent."

La Sia's stock on Monday closed 0.5 percent in the red at EUR8.90 per share.

By Chiara Bruschi, Alliance News reporter

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