(Alliance News) - Sia Spa reported Thursday that it closed the fourth quarter of 2023 with a value of production of EUR16.6 million, which compares with EUR15.4 million in the same period last year.

The backlog as of Dec. 31, 2023 stands at EUR36.4 million from EUR34.9 million in the third quarter and growth of 4 percent, consistent with the general ramp up of the company's business. Compared to the September amount, about EUR5 million was turned into revenue and new agreements of about EUR6.5 million were signed.

Net cash as of December 31, 2023 amounted to EUR4.8 million, an increase over the same period of the previous year of about EUR6 million, mainly related to the capital increase that took place thanks to the listing on the EGM market.

Maurizio Ciardi, chief executive officer of La Sia, commented, "We are very satisfied with the performance of the fourth quarter, which confirms the positive results of the first part of the year and allows us to close 2023 with satisfaction. The second part of the year just ended was characterized on the industrial level - among other things - by consolidation in new verticals, such as energy and mobility infrastracture, consistent with what we shared with the market during the listing phase. The backlog is confirmed to be solid and allows us to look with determination at the year that has just begun."

La Sia's stock is unchanged at EUR6.70 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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