(Finance) – MIT SIMan intermediary listed on Euronext Growth Milan and specialized in the provision of investment services, closed the first half of 2023 with a intermediation margin equal to 1,517,180 euros (+24% compared to the first half of 2022), which is broken down into active commissions for 1,579,551 (+5.5% compared to the first half of 2022), mainly attributable to the 71 active specialist mandates, the Order Reception and Transmission activity for 183,331 euros, the commissions for the Euronext Growth Advisor services and the placement for 663,311 euros.
The result after taxes is equal to -78,991 euros (-275,878 euros in the first half of 2022). The loss was therefore reduced by over 71% compared to the same period in 2022, demonstrating the progressive achievement of the growth and sustainability objectives of the business model.
“Having become market leader on EGM in the role of Specialist in just two years from the birth of the SIM and with a market share of 37% of the issuers, makes us proud and demonstrates that the initial idea of making use of the various skills and the network relationship created over the last 20 years by shareholders and management, it works – commented the president Corinna zur Nedden – Being able to already follow 15 companies like Euronext Growth Advisor, an activity that we only started offering in January 2022, is another indicator that market players like our business model“.
“Even the mandates from Global Coordinator are, despite a not particularly favorable IPO market in the first months of 2023, on the increase – he added – Last not least, our trading room has also achieved a record: the first position for intermediated volumes on its own account in the Euronext Growth Milan market, with 26.2% of the market share. In summary we can say: MIT SIM’s startup phase is overwe have achieved a good position in the market with all the services offered and we are confident that we will still seize great growth opportunities.”
As of June 30, 2023 the net financial position is equal to –2,264,874 euros (cash), compared to a value of -2,432,774 at 31 December 2022; this balance is made up of cash and securities held for trading, which have suffered a decrease in value in line with the negative performance of securities listed on the Euronext Growth Milan market during the first half of 2023.