(Alliance News) - GPI Spa reported Friday that it closed the first half of the year with a profit of EUR506,000 from EUR250,000 in the same period last year.

As of June 30, total revenues amounted to EUR192.8 million from EUR168.9 in the first half of 2022, up 14 percent.

Ebitda was EUR26.0 million from EUR157.0 million, up 50 percent from H1 2022.

Ebit stood at EUR8.8 million from EUR4.5 million as of June 30, 2022.

Net financial debt is EUR143.0 million from EUR65 million as of December 31, 2022.

For the full year, pro forma consolidated revenues in the EUR460 million area, pro forma consolidated Ebitda of about EUR88 million and net debt of less than EUR340 million of which about EUR50 million relates to residual debt related to extraordinary M&A transactions are expected.

GPI on Friday closed 0.7 percent in the red at EUR8.88 per share.

By Claudia Cavaliere, Alliance News reporter

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