(Alliance News) - UCapital24 Spa announced Monday evening that its board of directors approved its 2022 results, reporting a net loss of EUR744,000 an improvement of 43% from a loss of EUR1.3 million in the year 2021.

Value of production is EUR2.4 million up 139% from EUR983,000 in 2021.

Ebitda is negative EUR558,000 worsening by 6.0% from negative EUR527,000 in 2021.

Ebit is negative EUR744,000 improving by 44% from the negative value of EUR1.3 million in the previous year.

Net financial position is negative EUR77,000 compared to debt of EUR17,000 in 2021.

The board also approved a Development Plan 2023-2025 indicating total revenues between EUR5.0 and EUR6.0 million.

The Ebitda margin is expected to be in the range of 33 percent to 38 percent in 2025, and the Net Financial Position as of 2025 is expected to be cash in the range of EUR1.5 million to EUR2.0 million.

These results, the company explains in a note, "show growth for the three-year period resulting from the consolidation in the market and the improvement of the services and products of the company and the UCapital group, as well as the design and launch of new services and products, which will bring in more users, who will have the option to subscribe to annual subscriptions. This will enable the maintenance of a recurring, constant and growing level of revenues."

In the first quarter of 2023, it goes on to say, "the technological implementation and upgrade of the various platforms implemented as well as the artificial intelligence system for the management and analysis of big data will be completed."

UCapital24 on Monday closed in the green by 14 percent at EUR0.42 per share.

By Chiara Bruschi, Alliance News reporter

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