(Tiper Stock Exchange) – Eurotecha company listed on Euronext STAR Milan that designs, develops and supplies Edge Computers and solutions for the Internet of Things (IoT), closed on first half of 2023 with a sales equal to 47.89 million euros, growing on a like-for-like basis by 13.8% year on year (16.6% at constant exchange rates). Including the contribution of InoNet, which entered the scope of consolidation in September 2022, growth rises to 37.9% (41.2% at constant exchange rates).
L’EBITDA amounts to 2.70 million (5.6% of revenues), compared to -1.57 million in 2022 (-4.5% of revenues). The Net income is equal to -0.94 million (it was negative for 4.26 million in the first six months of 2022) and its impact on revenues is -2.0%.
The group presents as of June 30, 2023 a net financial debt of 18.7 million, compared to an amount of 14.4 million at 31 December 2022. The change in the net financial position was mainly determined by an increase in net working capital.
The company explains that the third quarter turnover will be impacted by the phenomenon of reduction of inventories by some customers (destocking). Without prejudice to a worsening of the component shortage phenomenon which is currently not foreseeable, the fourth quarter will be significantly stronger than the third and, as historically recorded, will probably be the strongest of the year.