(Tiper Stock Exchange) – Pro-Managementan Italian group active in the production of recycled paper, corrugated cardboard and packaging solutions, has registered Revenues from sales and services at 30 June 2023 equal to 275.4 million euros, up by 39% compared to the same period of the previous year due to the decrease in sales prices and the reduction in quantities sold.
The half year, explains the company in the interim report on operations, was characterized by “one delicate economic situation in which the entire packaging sector has been affected by a reduction in sales volumes linked mainly to a weak internal demand which is part of a still very uncertain economic climate”.
L’Normalized EBITDA decreased by 40.3% to 61.6 million euros, due to the reduction in turnover. L’useful was equal to 1.2 million euro, against a profit of the previous period equal to 34.4 million euro (-96.5%).
L’net financial debt at June 30, 2023 it amounted to 531.6 million euros, compared to 504.1 million euros at December 31, 2022, with an increase of 27.6 million euros mainly due to the absorption of working capital linked to the performance of sales volumes of finished products, investments and financial charges. At the end of the period the liquidity available is equal to 49 million euros.