(Alliance News) - Alfonsino Spa reported that it closed 2023 with a net loss of EUR1.4 million compared to a net loss of EUR1.9 million in 2022.

Revenues fell to EUR4.3 million from EUR4.6 while production value was EUR5.8 million, including EUR600,000 in other revenues and income and unchanged year-on-year. The latter figure also takes into account EUR1.0 million in increases in fixed assets for internal work related to technical capitalization related to development costs and realized in 2023.

On the profitability front, Ebitda is negative EUR800,000 and improves from the negative figure of EUR1.9 million in 2022 while operating loss decreases to EUR1.9 million from EUR2.5 million.

Net financial position is cash negative EUR1.0 million from the negative EUR18,000 figure as of June 30, 2023 while assets drop to EUR800,000 from EUR2.2 million at the end of 2022.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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