(Alliance News) - Doxee Spa reported that it closed the first half of the year with a net loss of EUR3.2 million from net income of EUR300,000 in the same period last year.

Revenues were EUR12.1 million, up from EUR11.1 million as of June 30, 2022. Infinica contributed EUR1.8 million to consolidated revenue generation.

Value of production was EUR13.8 million from EUR12.7 million in the first half of 2022 after increases in fixed assets for internal work pertaining to the development of the Doxee Platform of EUR1.3 million, in line with the 2022 figure, and other revenues and income related to tax credits and R&D contributions of EUR365,000 from EUR359,000 in the first half of 2022.

Contribution margin is EUR6.4 million, in line with the H1 2022 figure.

Ebitda is negative EUR500,000 from the positive figure of EUR1.5 million in the year before while the operating loss of EUR2.6 million compares with the positive Ebit of EUR100,000 in the previous year.

Pre-tax income is negative EUR3.3 million from the pre-tax profit of EUR300,000 in the first half of 2022, after a negative financial management result of EUR760,000 from the positive figure of EUR210,000 a year earlier.

Doxee Group's net financial debt was approximately EUR18.0 million from EUR14.4 million as of December 31, 2022, including cash and cash equivalents of EUR4.3 million from EUR2.6 million as of December 31, 2022. Non-current financial debt refers to EUR15.2 million in bank debt, of which approximately EUR9.7 million consists of medium-long term liabilities - with a term of between six and eight years - at variable interest rates with interest rate risk hedging, and EUR700,000 in medium-long term lease liabilities.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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