Pasquarelli Auto increases profit by 22 percent in the first half of the year

(Alliance News) - Pasquarelli Auto Spa reported that it closed the first half of the year with a net profit of EUR2.9 million, up 22 percent from EUR2.4 million in the same period last year.

As of June 30, production value stood at EUR119 million, up 18 percent to EUR101 million in the first half of 2022.

Ebitda was EUR5.6 million, up 35 percent from EUR4.2 million as of June 30, 2022.

Net financial debt is EUR22.6 million from EUR19.0 million as of December 31, 2022.

Looking ahead, "Activities on the commercial front continue, as reported among the significant events following the close of the second half of the year. The company is also waiting to receive the final authorizations needed for the opening of the Rome office from some of the entities involved. In light of the positive results achieved in the first half of the year, management is confident of continuing the growth trend in the second half of the year and of implementing the strategic guidelines communicated to the market during the IPO on the Euronext Growth Milan market," the company explained in a note.

Pasquarelli Auto trades in the green by 4.1 percent at EUR1.14 per share.

By Claudia Cavaliere, Alliance News reporter

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