(Alliance News) - The board of directors of e-Novia Spa approved the draft 2022 budget and 2022 consolidated financial statements on Tuesday, reporting a value of production at EUR13.9 million down 6.0 percent from EUR14.8 million in 2021.

The company reported a loss of EUR11.8 million worsening from a loss of EUR6.3 million in 2021.

Ebitda is negative EUR10.4 million from minus EUR4.6 million in 2021.

Net financial position is EUR1.4 million from a negative EUR21.1 million as of Dec. 31, 2021 due to an increase in total cash and cash equivalents compared to the previous year's figure and mainly due to the conversion at the listing of the Convertendo 2019-2022 Bond Loan for EUR22.4 million.

Exposure to banks increases due to taking out new loans to offset capital raising from third-party investors. Financial receivables are increased due to the adjustment of the reserve for interest rate hedging derivative contracts, the company explains in a note.

The year 2023, the company explains, will mark the Group's evolutionary path as a player in robotics, which will move along the following lines in particular: product presence in international markets through increased sales, a growth in orders and multi-year agreements with major international players in the markets it oversees; optimization of its assets with targeted investments and divestments aimed at more effective operation of the organization and recognition of the Group in the market; and focus on energy and resource-efficient technologies in line with sustainability goals, which are increasingly central to the Group's innovation activities.

e-Novia on Tuesday closed flat at EUR6.45 per share.

By Chiara Bruschi, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.