(Alliance News) - DHH Spa reported Thursday that it closed the first half of the year with revenues up 37 percent year-on-year to EUR16.5 million from EUR12.1 million in the same period last year.

The increase in revenues also helped profitability, with adjusted Ebitda rising to EUR5.4 million from EUR3.7 million and adjusted operating profit rising to EUR2.6 million from EUR1.8 million.

Adjusted net income, on the other hand, rose to EUR1.4 million from EUR1.2 million.

Operating cash flow was EUR5.6 million, with cash conversion of 104 percent, while Net financial position showed debt of EUR5.6 million, with cash and cash equivalents of EUR10.9 million.

"Although current energy market conditions have improved compared to the past, forecasting the near future remains difficult for DHH. Nevertheless, DHH group companies with significant energy requirements are actively working to enter into specific agreements to mitigate these risks. Delivery times for electronic equipment continue to average about 180-210 days for DHH," the company explained.

"To address this challenge, DHH has changed its usual technology upgrade cycle, reserving new equipment exclusively for DHH's production capacity expansion. As a result, DHH does not anticipate any significant adverse effects on its ability to provide industrial services. Finally, it is worth noting that none of DHH's customers currently have insolvency problems."

DHH's stock is unchanged at EUR15.50 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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