(Alliance News) - Reti Spa reported Thursday that it closed the first half of the year with a 36 percent increase in profit to EUR660,000 from EUR480,000 in the same period last year.

Production value amounted to EUR15.4 million, up 17 percent from EUR13.1 million in the first half of 2022. In particular, growth was driven by the IT Solutions line, which is confirmed as the main line of business of Networks, accounting for 62 percent of total revenues in the first half of the year.

In contrast, Ebitda, at EUR1.7 million, improved by 20 percent from EUR1.4 million as of June 30, 2022. Ebitda margin also increases to 11.0% from about 10.8%.

Ebit is EUR1.1 million, up 32% from EUR810,000 in H1 2022, after depreciation and provisions of EUR618,000, from EUR594,000 in H1 2022.

The Net Financial Position of EUR4.3 million is an improvement from EUR6.2 million as of Dec. 31, 2022, as no new loans were taken out and outstanding debts were repaid according to due dates, thanks in part to cash generated during the period.

Reti's stock on Thursday closed 2.5 percent in the red at EUR1.57 per share.

By Chiara Bruschi, Alliance News reporter

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