Eligo, revenues up 20 percent; half-year loss due to cost increase

(Alliance News) - Eligo Spa on Thursday reported that it closed the first half of the year with a loss of EUR1.2 million, worsening from a negative result of EUR500,000 in the same period last year.

Revenues grew to EUR878,000, up 20 percent from EUR730,000 reported as of June 30, 2022. This result is generated mainly by the parent company Eligo, thanks to sales made through the proprietary marketplace.

Ebitda is negative EUR960,000 from a negative EUR212,000 in the first half of 2022, reflecting an increase in costs related to business support and development, particularly advertising, marketing and personnel expenses, which increased by more than EUR716,000 compared to the same period in the previous year.

After depreciation, amortization and write-downs of approximately EUR196,000, Ebit stood at a negative EUR1.2 million, compared to EUR500,000 as of June 30, 2022.

Net financial debt stood at EUR219,000, broadly in line with the December 31, 2022 figure of EUR223,000, with cash and cash equivalents of EUR618,000.

Eligo's stock on Thursday closed at a par at EUR2.150 per share.

By Chiara Bruschi, Alliance News reporter

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