(Alliance News) - Homizy Spa reported that as of Sept. 30, value of production was EUR14.7 million, up sharply from EUR3.1 million in the same period last year.

Pre-tax loss narrowed to EUR615,469 from EUR692,327 while net loss widened to EUR757,207 from EUR584,980.

Consolidated shareholders' equity is EUR12.9 million and net financial debt is EUR7.0 million, influenced mainly by the purchase of the Via Tucidide area and the progress of construction.

Marco Grillo, president of Homizy, said, "During the year, we continued with numerous activities for the realization of the two pipeline projects, with the start of the strip-out operations on the Via Tucidide area and the conclusion of the remediation process on the Via Bistolfi area, as well as the definition of the technological platform that will allow us to manage in a totally digitized way all the phases of the income-generating of the co-living apartments."

"The Milanese market continues to represent a great opportunity for our business model, with a demand that is always very strong, to which the Homizy product responds in an innovative way and in step with the new housing needs, especially those of our target audience, young people."

Homizy's stock closed Monday unchanged at EUR4.40 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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