Egide's share price climbed on the stock market this Wednesday following the release of first-half results confirming the turnaround of the manufacturer of hermetic packages for sensitive electronic components.

In the first half of the year, the company reported sales of 19.2 million euros, up 20% on the first half of 2022 and up 9% on the second half of 2022.

At constant exchange rates, sales growth was 19%.

The company, which says it has benefited from the upward trend in the defense and aerospace markets, stresses that its performance has improved at all levels.

With Ebitda rising from -0.04 million euros at June 30, 2022 to 1.30 million at June 30, 2023, the net loss was 0.9 million euros in the first half, compared with two million a year earlier, a 56% reduction.

Egide reiterates that its priority remains the turnaround of its US subsidiaries, but also aims to improve its financial situation, which led it to raise 2.6 million euros in cash at the beginning of September via a 1.9 million euro capital increase and a 750,000 euro bond issue.

Following these announcements, the share price rose by over 10% on Wednesday morning, bringing its gains since the start of the year to over 15%.

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