(Alliance News) - Estrima Spa reported Wednesday that it closed the first half of the year with a loss of EUR2.6 million, which compares with a loss of EUR1.2 million in the same period last year.

Value of production came in at EUR23.8 million, up 20 percent from EUR20.0 million a year earlier, with revenues from sales and services of EUR22.7 million, up 24 percent from June 30, 2022, when they were EUR18.2 million.

Ebitda is negative EUR570,000 from negative EUR516,000 a year earlier while operating loss deteriorated to EUR1.6 million from EUR1.4 million a year earlier.

Net financial debt was EUR6.2 million, up from EUR3.0 million as of Dec. 31, 2022, partly due to cash absorption from investments and increased working capital.

Estrima's stock closed Wednesday down 4.6 percent at EUR0.95 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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