(Alliance News) - Iervolino & Lady Bacardi Entertainment Spa on Wednesday reported total revenues of EUR60.0 million in the first half of the year, down 28 percent from EUR83.3 million in the same period last year.

As of June 30, consolidated Ebit reached EUR2.7 million from EUR11.2 million in the first half of 2022.

The Net Debt Financial Position increased to EUR41.3 million compared to December 31, 2022, when it was EUR23.1 million and EUR25.8 million before IFRS 16 effects, due to higher investments made and paid during the period that added to the negative financial effect of lower revenues from distribution rights of the so-called "Family Movies" and Puffins & Arctic Friends.

Iervolino & Lady Bacardi Entertainment on Wednesday closed in the green 4.6 percent to EUR1.02 per share.

By Claudia Cavaliere, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.