(Alliance News) - Beghelli Spa announced Monday that it has approved results for the first half of the year in which the company posted a loss of EUR1.6 million, up from a profit of EUR450,000 in the same period last year.

The company explained that the dynamics of the net result was adversely affected by the increase in net financial expenses due to the rise in interest rates and the change in the fair value, compared to the previous year's closing value, of related derivative instruments.

Consolidated revenues as of June 30 stood at EUR82.4 million, up 10 percent from EUR74.8 million in the first half of 2022.

Consolidated net revenues as of June 30 for the lighting business were EUR76.6 million, up 7.6 percent from the previous six-month period.

Consolidated net revenues for Italy for the first half of the year were EUR44.0 million, up 8.7 percent from the first half of 2022 while consolidated net revenues for the same period for overseas were EUR38.4 million, up about 12 percent from 2022.

Ebitda was EUR5.8 million from EUR6.6 million as of June 30, 2022.

Net financial debt is EUR55.3 million, down EUR6.6 million from that as of December 31, 2022.

Beghelli is flat at EUR0.24 per share.

By Claudia Cavaliere, Alliance News reporter

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