(Finance) – The Lifestyle Groupa company suspended from trading on Euronext Growth Milan, closed the first half of 2023 with a Production value consolidated equal to 7 thousand euros (254 thousand 1H2022; 348 thousand at 12.31.2022), EBITDA consolidated negative for 383 thousand euros (negative for 478 thousand in 1H2022, negative for 950 thousand at 31.12.2022) and a Net income consolidated negative for 435 thousand euros (negative for 502 thousand in 1H2022; negative for 1,122 thousand euros at 12.31.2022).
The net assets consolidated is negative for 755 thousand euros (negative 600 thousand at 31 December 2022) and the Net Financial Position consolidated (financial debt) is negative for 911 thousand euros (negative 259 thousand at 31 December 2022), against a negative value of 1,459 thousand at 30 June 2022 (financial debt).
The six-monthly report was approved by the Board of Directors with director Antonella Pasquali voting against, we read in a note.
In the first half of the year, the company was “engaged in reorganization of its activities corporate, with the aim of structuring itself in order to become a holding company of industrial investments”.
The Board of Directors believes that, at present, there is a reasonable expectation that the company can rely on adequate resources to continue its operational existence in the foreseeable future, as defined by the reference accounting standards, also based on the expected successful outcome of the negotiations in progress with some Euronext Growth Advisory, as well as the comfort letter released by Negma Group Investment on
05/10/2023 and the opinion released on 05/10/2023 by professor Salvatore Providenti, and that, for these reasons, we can continue to adopt the assumption of business continuity in the preparation of the interim financial statement.
(Photo: Priscilla Du Preez on Unsplash)