(Alliance News) - OSAI Automation System reported Friday that it closed 2023 with a slightly increased year-on-year value of production, to EUR43.6 million from EUR42.5 million in 2022.

Revenue from sales increased to EUR37.7 million from EUR31.7 million in the previous year. Order intake was EUR37.3 million, noting a 17 percent decline from the same figure in 2022.

Despite the growth in sales, Ebitda is engative by EUR1.7 million from the positive figure of EUR3.9 million in the year before, the operating loss of EUR4.9 million compares with the positive Ebit of EUR1.8 million in 2022, and the net loss of EUR6.2 million compares with the net profit of EUR950,000 in the previous year. Internal personnel costs, external personnel costs, travel expenses, and EUR470,000 provisions for loss on job order weighed on the company's profitability.

Net financial position as of December 31, 2023 is EUR37.5 million from EUR20.4 million at the end of 2022.

OSAI Automation System's stock closed Friday at a par at EUR1.40 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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