(Alliance News) - The board of directors of Compagnia Immobiliare Azionaria Spa has approved the consolidated financial statements for the year 2023, which closed with a loss of EUR1.7 million, doubled from the negative result of EUR837,000 recorded as of Dec. 31, 2022.

"The consolidated overall result worsens compared to the previous year mainly

due to non-ordinary tax charges booked in the period," the company says in a note.

Revenues drop to EUR285,000 from EUR378,000 in the previous year.

Ebitda is negative EUR382,000 from the negative figure of EUR253,000 in 2022.

Operating income is negative EUR1.5 million from negative EUR777,000.

Net financial debt is EUR5.2 million, in line with the previous year.

Compagnia Immobiliare Azionaria's stock closed flat Wednesday at EUR0.04 per share.

By Chiara Bruschi, Alliance News reporter

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