(Alliance News) - The board of directors of Sababa Security Spa on Monday approved the draft financial statements for the year ended Dec. 31, 2022, which closed with a profit of EUR420,000 from EUR568,000 in the previous year.

Sales revenue amounted to EUR11.1 million, up from EUR5.4 million in the year ended Dec. 31, 2021, "with triple-digit growth demonstrating the consolidation of Sababa Security's presence in the cybersecurity market," the company's memo said.

Sales revenues amounted to EUR9.7 million with a 98 percent increase from EUR4.9 million as of Dec. 31, 2021.

Ebitda is EUR1.01 million, up 10% from EUR920,000 as of Dec. 31, 2021, with a 10% margin on revenues.

Ebit is EUR500,000, down 15% on the previous year and with a margin of 5.2%.

Net financial position is cash positive at EUR4.13 million, compared to cash positive NFP as of June 30, 2022 of EUR6.24 million and cash positive NFP of EUR6.83 million as of December 31, 2021.

Sababa ended Monday's session in the green by 0.4 percent at EUR3.93 per share.

By Maurizio Carta, Alliance News reporter

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