(Alliance News) - The board of directors of ePrice Spa on Tuesday reviewed and approved the 2022 financial statements, reporting a net profit of EUR11.9 million, an improvement from a loss of EUR20.2 million in 2021.

This result is from discontinued operations or assets held for sale, attributable to the deconsolidation of subsidiaries, of EUR13.0 million approximately compared to a negative EUR13.7 million in 2021 restated under IFRS.

The company points out that during the first part of 2022, until June 30, 2022, ePrice operated in the e-Commerce business through ePrice Operations Srl. Due to the bankruptcy of ePrice Operations, declared by the Court of Milan on June 30, 2022, ePrice is effectively a non-operating company.

Revenues amounted to EUR336,000 million, down sharply from EUR1.2 million in 2021.

Operating income is negative EUR945,000 from negative EUR5.2 million in 2021.

As of December 31, 2022, the group had net debt of EUR5.9 million compared to EUR7.3 million as of December 31, 2021.

ePrice on Tuesday closed flat at EUR0.011 per share.

By Chiara Bruschi, Alliance News reporter

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