(Alliance News) - Medica Spa reported on Friday that it had closed the first half of the year with preliminary consolidated sales of approximately EUR33.6 million, a significant increase compared to the sales achieved in the first half of 2022 of EUR20.4 million.

The consolidated net financial position, negative by about EUR15.5 million, shows a decrease of EUR11.2 million compared to EUR4.3 million as of December 31, 2022.

Commenting on the group's performance, Luciano Fecondini - chairman of the board and founder said, "I am pleased with the contribution of the newly established companies Medica USA and Medica Gmbh to the group turnover, only a few months after their establishment, and the strong growth of the Medical division. The group's significant order backlog makes us optimistic and confident for a significantly better second half of the year, counting on a recovery in turnover in the Automation and Water division."

"We are completing the season of major investments with the inauguration shortly of the new plant in Tunisia, about EUR4 million spent in the last three years, of which about EUR1 million will be spent in the first half of 2023, adding to the new plant in Sarmed substantially completed at the end of 2022. With these two operations we secure the possibility of important revenue growth in the historical perimeter of the group," Fecondini concluded.

Medica on Friday closed down 0.9 percent at EUR21.00 per share.

By Maurizio Carta, Alliance News reporter

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