VANTEA SMART S.P.A. (Alliance News) - Vantea SMART Spa reported that it closed the first half of the year with a net profit that fell to EUR548,493 from EUR993,696 in the same period last year.
In the first six months of the year, the Vantea SMART group posted a value of production of EUR9.2 million and revenues of EUR7.7 million, down 74 percent from the first half of the previous year and 61 percent from the second half.
Ebitda is EUR1.5 million, certainly lower than in the first half of the previous year but well above the last half-year, the second half of 2022, "a sign that the company's strategy of reprioritizing where to invest is correct," the company said.
Operating profit was EUR900,000, certainly 45 percent lower than the six-month baseline.
Net financial debt improved to EUR5.6 million from EUR7.1 million recorded as of Dec. 31, 2022 and EUR8.0 million recorded as of June 30, 2022. Relative to the point, the company has started the process of repaying a part - amounting to EUR4.8 million - of tax receivables.
Vantea SMART is flat at EUR2.40 per share.
By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter
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