(Alliance News) - ESI Spa announced Monday that it closed 2023 with a loss of EUR1.7 million from a negative EUR220,000.

The value of production increases to EUR17.0 million from EUR30.5 million in 2022.

As of the current date, the company says, the order book has reached EUR51.7 million, up from EUR15.34 million recorded as of Dec. 31, 2022.

Ebitda is negative EUR1.6 million from EUR1.2 million in the previous year. The decrease from 2022 is attributable to lower production volumes on the one hand and higher production costs on the other, the company says in a note.

Ebit drops to minus EUR2.0 million from EUR720,000 in 2022.

Net financial position as of Dec. 31, 2023, is cash negative EUR810,000, an improvement from 2022 when it was cash negative EUR2.32 million, mainly due to the repayment of payables to factoring institutions, which are reduced by EUR2.27 million.

ESI closed Monday up 5.3 percent to EUR2.18 per share.

By Chiara Bruschi, Alliance News reporter

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