(Alliance News) - Friulchem Spa on Friday reported a profit of EUR9,000 in the first half of the year from EUR4,000 in the same period last year.

Sales revenues as of June 30 were EUR15.1 million, down from EUR17.0 million in the previous year.

The Veterinary BU had revenues of EUR12.0 million, up 10% from June 30, 2022 when it was EUR10.9 million; while the Human BU had revenues of EUR3.1 million compared to EUR6.1 million in the same period 2022.

As of June 30, the value of production stood at EUR16.8 million from EUR17.9 million in the first half of 2022.

Ebitda stood at EUR920,000 up 8.0% from EUR850,000 as of June 30, 2022.

Ebit was EUR400,000, with Ebit margin of 2.1%, im line with 2022.

Net financial position as of June 30 was EUR10.5 million compared to end of 2022 when it was EUR5.4 million.

Looking to the future, "Based on the forecast data prepared for the current fiscal year and in view of the shutdown of pharmaceutical production at the Friuli plant of about three months, we estimate a decrease in sales volume compared to the previous year and a breakeven economic result. The results of the first months of the second half of the year confirm these forecasts and, consequently, the aforementioned expectations," the company explained in a note.

Friulchem on Friday closed 6.4 percent in the red at EUR1.02 per share.

By Claudia Cavaliere, Alliance News reporter

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