(Alliance News) - Gib Spa on Tuesday reported that net income in the first half of the year fell 56 percent to EUR3.3 million from EUR7.3 million in the same period last year.

Revenues as of June 30 stood at EUR50.6 million, up 11 percent from EUR45.5 million in the first half of 2022, with foreign revenues accounting for 45 percent of the total, corresponding to EUR22.6 million.

Ebitda was EUR9.3 million, down 5.1% from EUR9.8 million as of June 30, 2022.

Ebit was EUR6.2 million, down 30 percent from EUR8.8 million in 2022.

Net financial position is EUR27.5 million, up from EUR22.9 million as of Dec. 31, 2022 mainly due to the distribution of the 2023 dividend of EUR2.5 million accrued in 2022 and as a result of the tax credit recession contract signed in May, which resulted in a financial advance in June netted by the lack of disbursement in the following months in terms of contributions and taxes due to the offsetting of F24 and tax credits, the company explained in a note.

Gibus trades in the green by 6.9 percent at EUR11.65 per share.

By Claudia Cavaliere, Alliance News reporter

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