(Alliance News) - The board of Geox Spa on Thursday announced that it has approved consolidated results as of June 30, which closed with a loss of EUR9.6 million, compared with a loss of EUR19.6 million in the first half of 2022.

Consolidated revenues for the first half stood at EUR353.6 million, up 3.8 percent from the previous year, "mainly due to the good performance of the multi-brand channel, which increased by 10 percent."

Footwear accounted for about 92 percent of consolidated revenues, standing at EUR324.8 million, an increase of 5.4 percent compared to the first half of 2022.

Revenues generated in Italy, which accounted for 28% of group revenues stood at EUR98.8 million compared to EUR92.6 million in H1 2022.

Ebitda is expected to stand at EUR40.2 million compared to EUR25.5 million in H1 2022.

Operating income returned to positive at EUR3.6 million, compared to negative EUR11.0 million in H1 2022.

Net financial position was negative EUR89.5 million from negative EUR49.8 million in December 2022.

Net debt to banks alone stood at EUR100.5 million, compared to EUR75.7 million in December 2022.

Geox closed Thursday's session flat at EUR0.84 per share

By Maurizio Carta, Alliance News reporter

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