Grifal, profit and revenue up in first half of the year

(Alliance News) - Grifal Spa announced Friday that its board of directors approved the half-year report as of June 30, reporting a profit up to EUR570,000 from EUR121,000 in the same period last year.

Slight improvement in value of production to EUR20.9 million from EUR20.7 million in the first half of 2022, with revenues at EUR19.4 million from EUR18.6 million in the same period 2022.

After a 2022 characterized by major increases in input costs that could not be passed on to customers in a timely manner, the company explains, "the gradual reduction in the price of raw materials allowed the group an important increase in margins."

Thus, Ebitda is EUR2.7 million, up from EUR1.9 million counted in the first half of 2022, and the margin increases to 13.8 percent of sales revenue from 10.5 percent as of June 30, 2022.

Group depreciation and amortization totaling EUR1.5 million in line with the first half of 2022 brings Ebit to EUR1.2 million, up from EUR489,000 as of June 30, 2022.

Net financial position is negative EUR20.8 million, from EUR18.9 million as of Dec. 31, 2022.

Grifal's stock on Friday closed up 6.1 percent at EUR2.44 per share.

By Chiara Bruschi, Alliance News reporter

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