(Alliance News) - The board of directors of Datalogic Spa on Wednesday approved the consolidated half-year financial report as of June 30 reporting a profit of EUR12.1 million down from EUR8.8 million recorded in the first half of 2022.

Consolidated revenues of EUR298.0 million registered a decrease of 5.3 percent from EUR314.6

million realized in the first half of 2022, with a decrease in all geographical areas. At constant exchange rates, the sales trend is a decrease of 5.0 percent.

Adjusted Ebitda is EUR33.0 million down from EUR34.3 million in the same period last year.

Ebit is down to EUR12.6 million from EUR15.3 million in the first half of 2022.

Net financial position, at EUR25.1 million, is at its lowest level in the past two years and since the beginning of the components crisis.

As for the future, "due to continuing uncertainty regarding the timing of the recovery of demand in the main markets in which the group operates, the group's expectations for the second half of the year are for a reduction in sales compared to the previous year," the company explained in a note.

Despite the continuation, even beyond initial expectations, of a still interlocuting scenario on the demand front, "thanks to the improvement in industrial margins and the lower level of debt, the company will continue to maintain solid levels of investment in research and development and in commercial structures," Datalogic further specifies.

Datalogic's stock on Wednesday closed 1.3 percent in the red at EUR6.54 per share.

By Chiara Bruschi, Alliance News reporter

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