(Alliance News) - Philogen Spa reported that it closed the third quarter with a positive Net Financial Position of EUR68.6 million compared to an NFP, also positive, of EUR79.1 million as of June 30, showing a percentage decrease of 13 percent.

As of Sept. 30, the group closed with liquidity of EUR83.8 million compared to June 30 liquidity of EUR94.3 million, showing a decrease of 11 percent. The latter change of EUR10.5 million can be attributed to the net change in cash flow generated by collections from contracts with customers of EUR858,000, outflows for core operations of approximately EUR8.0 million, and outflows for the purchase of a building adjacent to the Montarioso plant totaling EUR2.3 million.

Also, outlays for investments related to construction of the new office building at the Rosia site totaling approximately EUR686,000, outlays for the purchase of treasury shares totaling EUR762,000, net positive change in financial operations totaling approximately EUR349,000.

Current and noncurrent financial debt as of September 30 was EUR15.1 million compared to EUR15.2 million as of June 30, showing a decrease of about EUR100,000 resulting from the progress of existing amortization schedules.

Philogen's stock is at parity at EUR18.05 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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