(Finance) – Ambromobiliarea consultancy company specialized in Financial Advisory services and listed on Euronext Growth Milan, closed the first half of 2023 with total net revenues equal to 877 thousand euros (922 thousand euros at 30 June 2022), EBITDA negative for 54 thousand euros (positive 57 thousand euros at 30 June 2022) and Net income which goes from a loss of 3 thousand euros at 30 June 2022 to a loss of 41 thousand euros at 30 June 2023 (after having set aside relevant taxes of 35 thousand euros).
“The first six months of 2023 have once again demonstrated Ambromobiliare’s resilience in particularly difficult market contexts which have seen markets for SMEs penalized in particular – commented the president Alberto Franceschini Weiss – Despite the prevailing uncertainty, the positioning of our company, the ongoing diversification into new business areas and the interesting pipeline of operations we are working on make us moderately confident about the future. The numbers for this first part of 2023 indicate that, despite the stagnation of the stock markets dedicated to SMEs, the company has managed to acquire new assignments and provide services in other business areas. Our company remains confident in a market recovery.”
The company has managed to maintain a Net Financial Position slightly negative (cash), however recording a decrease in the same of approximately 327 thousand, going from negative 329 thousand at 31 December 2022 to negative 2 thousand at 30 June 2023. The change is mainly linked to an increase in the long-term portion of loans.
Ambromobiliare explains that currently the ECM-Team, convinced of a recovery in market conditions at the latest in financial year 2024, is involved in 6 other IPO mandates on EGM. As regards the customer assistance activity in the listing processes currently underway, these are distributed across various sectors, such as sustainable energy, telecommunications, management of electricity distribution networks and catering.
The Board of Directors has resolved to convene both the Meeting of the Holders of “Warrant Ambromobiliare SpA 2020-2023” and the Meeting of Ambromobiliare Shareholders to resolve on extend the duration of the exercise of the ongoing warrants.