Softec cuts losses in 2022; revenue drops slightly

(Alliance News) - Softec Spa reported that it ended 2022 with slightly declining revenues but a reduced year-on-year net loss.

The company's revenues fell to EUR5.1 million from EUR5.4 million in the previous year.

The net loss is EUR631,000 and compares with the net loss of EUR1.0 million in 2021. Income from ordinary operations is negative EUR134,000 compared to negative EUR645,000 in the previous year.

The company's Ebitda is negative EUR98,000 against the negative figure of EUR551,000 in 2021, and the operating loss is reduced to EUR590,000 from EUR985,000 in the previous year.

As of December 31, 2022, financial debt is negative EUR3.2 million, of which EUR2.2 million is medium- to long-term and is EUR673,000 worse than as of December 31, 2021. Shareholders' equity as of December 31, 2022 is EUR427,000 and, overall, falls by EUR559,000.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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