Ecomembrane makes a loss in the first half of the year but reduces bank debt

(Alliance News) - Ecomembrane Spa reported Thursday that revenues dropped to EUR4.4 million in the first half of the year from EUR6.1 million in the same period last year.

The revenue figure reflects, as far as the parent company is concerned, a marked seasonality effect, with significant revenue generation concentrated in the second half of the year and, in particular, in the last quarter.

Ebitda is negative EUR406,000 from the positive figure of EUR3.2 million at the end of 2022.

Net loss is EUR957,000 and pre-tax loss is EUR929,000.

The Net Financial Position shows an overall positive balance of EUR7.2 million, cash and cash equivalents, at EUR9.1 million, being largely higher than bank debts, which, in turn, compared to the figures as of December 31, 2022, have decreased to EUR1.9 million from EUR2.5 million. The main reason for the change in net financial debt compared to December 31, 2022 is attributable to the funds raised at the listing net of related costs.

Ecomembrane's stock closed Thursday down 0.3 percent at EUR7.88 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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