(Alliance News) - Matica Fintec Spa on Thursday reported its preliminary unaudited consolidated results as of Dec. 31, reporting a net profit of EUR2.2 million, compared to EUR2.6 million as of Dec. 31, 2022.

Net financial debt was positive EUR1.8 million, an improvement on both December 31, 2022 - cash of EUR1.4 million - and June 30 net cash of EUR1.1 million.

Revenues reached a record EUR22.6 million from EUR19.5 million as of Dec. 31, 2022.

"This growth, due in part to the full-year consolidation of UBIQ, reflects the optimization process of the two companies acquired in 2022 and brought to full capacity in 2023, which firstly allowed to integrate the value chain and complete the company's offerings in Hardware and Software and at the same time provided a local presence in the U.S. market, which is a key market for the Matica group," the company note reads.

Ebitda is EUR4.5 million from EUR5.0 million as of Dec. 31, 2022, and shows an Ebitda margin of 20 percent.

Matica Fintec on Thursday trades in the green by 5.1 percent at EUR1.56 per share.

By Maurizio Carta, Alliance News reporter

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