(Finance) – IRCE ended the first semester with a profit increasing to 4.94 million of Euro. The sales consolidated was 218.96 million down 16.1% compared to 261.00 million in the same period of 2022, due to lower volumes sold and the drop in the price of copper.
The progress of Gross Operating Margin and Operating Profitat 11.3 million and 7.5 million respectively, benefits not only from the lower production costs also the contribution of recent investments in high-efficiency plants and machinery.
There net financial position as of June 30, 2023 it amounts to 66.18 million, increasing compared to €60.05 million as of 31 December 2022, as a result of the increase in working capital. The investments in the first half of 2023 they were equal to 5.11 million and they have
mainly concerned the parent company IRCE SpA and the English subsidiary FD Sims Ltd.