(Alliance News) - Olidata Spa reported Friday that it closed the first half of the year with revenues up to EUR25.1 million from EUR15.7 million in the same period last year.

The company's Ebitda rose to EUR1.1 million from EUR963,000 while operating income improved to EUR904,000 from EUR768,000.

Net income increased to EUR465,000 from EUR369,900 in the first half of 2022.

Medium to long-term net financial debt was EUR4.1 million from EUR2.9 million as of Dec. 31, 2022, and consisted mainly of non-current financial liabilities related to loans and financing from the subsidiary Sferanet and non-current financial assets.

"I am proud," said Cristiano Rufini, the company's CEO, "of the results achieved so far and of being able to continue the story of a great brand, Olidata, which has contributed to the IT development of this country. Always attentive to financial balances but never neglecting the welfare of employees, to whom my thanks go. The goal was not a foregone conclusion, but the results and the strong interest from our shareholders are confirming that we are on the right track."

Olidata's stock closed Friday down 2.4 percent at EUR0.83 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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