(Finance) – Green Oleoa company listed on Euronext Growth Milan and active in the field of green chemistry from renewable sources, closed on first semester of 2024 with revenues equal to 38.7 million euros, +16% compared to 33.4 million euros in 1H 2023.EBITDA stands at 2.1 million euros, +104% compared to 1 million euros in 1H 2023. In relation to the improvement in the Gross Operating Margin, the company highlights that the incidence of costs for raw materials goes from 74.4% of 1H 2023 at 67.7% of 1H 2024, benefiting from the efficiency of the procurement process started in Q4 2023. Net Result is equal to 0.1 million euros, unchanged compared to 0.1 million euros in 1H 2023.
“The evidence for the first half of 2024 is positive from all points of view: foreign markets continue the double-digit growth trend, recording excellent performances in both cosmetics and lubrication – they commented Beatrice BuzzellaPresident and CEO e Francesco BuzzellaAD – the contribution to growth from all fatty acid product categories is once again positive; on the impact of costs for raw materials, the effectiveness of the procurement process launched in Q4 2023 based on a quarterly forecast activity emerges; the financial structure remains solid and balanced, with a growing Net Equity and a decreasing Net Financial Debt thanks to the reduction of financial debts and the generation of cash from core management”.
THE’Net Financial Debt is equal to 12.2 million euros; the improvement compared to 14.3 million euros at 31 December 2023 is attributable both to the reduction in financial debts and to the cash generation of core operations, thanks to the reduction in Net Working Capital which went from 10.3 million euros in 1H 2023 to 8.8 million euros in 1H 2024.