We are proud to announce that we have laid a solid foundation for a positive performance in the first half of 2023. Indeed, our revenues grew in double-digit figures both in Italy and on the international markets, reaching Euro 28.8 million, up 33.9% compared to the same period last
year (Euro 21.5 million).

 We are pleased to announce that our Gross Operating Margin (EBITDA) reached Euro 5.9 million, representing an increase of 15.7% compared to 30 June 2022 (Euro 5.1 million). In addition, our Net Operating Margin (EBIT) stood at EUR 4.2 million, an increase of 13.9% compared to EUR 3.7 million as at 30 June 2022, which includes depreciation and amortisation of EUR 1.8 million (approximately EUR 1.5 million as at 30 June 2022).

 This significant growth is the result of profitable business activity, which has allowed us to maintain an optimal level of margins despite the cost trend. In addition, the increase in warehouse stock has helped to strengthen our presence in foreign markets.

 Our Profit Before Tax of EUR 4.0m showed an increase of 15.7% compared to 30 June 2022 (EUR 3.4m). Net Profit reached EUR 3.2 million, registering an increase of 21.2% compared to 30 June 2022 (EUR 2.6 million), including taxes of EUR 0.8 million (EUR 0.8 million as at 30 June 2022). In addition, Group Net Profit stood at EUR 2.5 million (EUR 2.1 million as at 30 June 2022).

 Net Financial Indebtedness was EUR 15.9 million, compared to EUR 0.3 million (cash positive) recorded as at 31 December 2022, with total cash and cash equivalents of EUR 16.3 million (EUR 17.7 million previously).

 We continue with commitment and dedication towards achieving our goals of growth and success, convinced that our business strategy is the best key to our positive performance. We are confident in the continuous improvement of our future performance, maintaining a standard of excellence and always providing value to our investors and customers.