GEL, half-year profit shrinks; revenues also drop

(Alliance News) - GEL Spa reported Monday that it posted revenues in the first half of the year of EUR7.6 million, down from EUR9.4 million in the same period last year.

Ebitda stood at EUR700,000 from EUR1.5 million in 2022 with Ebitda margin of 8.9 percent.

Net income as of June 30 was EUR100,000 down from EUR700,000 in 2022.

Ebit is EUR200,000 from EUR1 million as of June 30, 2022.

Net financial position stands at EUR6.9 million compared to EUR5.2 million as of Dec. 31, 2022.

Based on the performance in the first months of the second half of the year, the company expects the second half of the year to see a smaller decrease in revenues than in the first half.

On Monday, GEL closed flat at EUR1.51 per share.

By Claudia Cavaliere, Alliance News reporter

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