(Alliance News) - Farmacosmo Spa reported that it closed 2023 with a loss of EUR3.2 million, larger than the EUR1.3 million loss in the previous year.

Revenues amounted to EUR71.2 million up 8.5 percent from EUR65.7 million in the previous year.

Ebitda was negative EUR286,000 from EUR43,000 in the previous year. Influencing this were raw material purchase costs up 3 percent from the same period in the previous year, service costs up 50 percent due to the inclusion of subsidiaries in the scope of consolidation, and personnel costs for the latter same reason.

Consolidated Net Financial Position is cash negative about EUR1.2 million from a cash positive figure of EUR5.2 million in 2022. The figure is influenced by the performance of commercial working capital, investments implemented for the launch of the ContactU telepsychology platform and support for the relaunch of ProfumeriaWeb.

Farmacosmo's stock closed Thursday down 1.6 percent at EUR0.96 per share.

By Chiara Bruschi, Alliance News reporter

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