(Alliance News) - The board of directors of MARR Spa on Friday approved the half-year financial report as of June 30, which closed with a net profit of EUR18.7 million and compares with EUR10.5 million in the first half of 2022.

The first six months ended with total consolidated revenues at over EUR1.0 billion, up from EUR874.3 million in the same period last year.

There was also an improvement in operating profitability with consolidated EBITDA for the first half of 2023 at EUR53.4 million compared to EUR35.0 million in 2022 and EUR56.3 million pre-pandemic in 2019.

Ebit for the period is EUR34.7 million and compares with EUR18.3 million in H1 2022.

Net financial debt as of June 30, 2023 is EUR250.1 million and compares with EUR270.6 million as of March 31, 2023.

Looking ahead, the company writes that "the entire organization remains focused on activities for the recovery of operating profitability, which is expected, also based on the performance of the first seven months, to enable it to reapproach already in the current fiscal year the levels in absolute value of pre-pandemic EBITDA. There also remains a strong focus on controlling the levels of absorption of commercial working capital in order to mitigate the cost of financing it."

MARR on Friday trades in the red by 0.7 percent at EUR13.53 per share.

By Maurizio Carta, Alliance News reporter

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