(Alliance News) - Antares Vision Spa reported that the group's preliminary net financial position as of Dec. 31, 2023 was approximately EUR101 million, higher than expectations that wanted it to be between EUR90-95 million due to the delay in the collection of some receivables and the failure to finalize certain non-recourse factoring transactions related to the company, which were originally scheduled to be completed by the end of fiscal year 2023.

The company explained that work is currently underway to prepare the consolidated budget for FY2024, with respect to which Antares Vision's top management has decided to adopt a conservative approach with reference to rfxcel's L5 revenues, which, therefore, will not be considered in the FY2024 budget unless based on a high probability of collection.

As of December 31, 2023, the company recalls that it can rely on group available cash of approximately EUR62 million for normal operations, which covers the operating needs for the full year 2024.

Finally, Antares Vision has appointed Mediobanca Spa as Financial Advisor. In detail, the mandate involves analyzing the financial situation of the Antares Vision group and supporting the identification of a strategy for its reorganization and optimization.

Antares Vision on Monday is flat at EUR1.58 per share.

By Claudia Cavaliere, Alliance News reporter

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