(Alliance News) - Promotica Spa reported on Thursday that it made a loss of EUR439,000 in the first half of the year, which compares with a profit of EUR1.2 million in the same period last year, partly due to financial charges of EUR700,000 due to higher interest rates.

Revenues decreased to EUR33.2 million from EUR45.2 million in the first half of 2022. This decrease "is partly due to the seasonality typical of the sector and, this year in particular, to the concentration of the main campaigns in the second half of the year," the company specified in a note.

Ebitda amounted to EUR636,000, down from EUR2.8 million in the same period last year. "The impact of logistics costs related to the preparation of stocks of goods needed to deal with the large campaigns acquired for the second part of the year resulted in an extremely risky marginality," the company note says, "also due to the closure in the first half of the year of particularly logistically demanding national campaigns but necessary to maintain good relations with some key customers.

Ebit is EUR89,000 from EUR2.2 million in the first half of 2022.

Net financial debt is debt of EUR27.0 million from EUR18.1 million as of Dec. 31, 2022.

Promotica's stock on Thursday closed at a par at EUR2.80 per share.

By Chiara Bruschi, Alliance News reporter

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