(Alliance News) - Tweppy Spa let it be known on Friday that the board of directors has approved some preliminary management figures for December 31 reporting a value of production of EUR1.6 million, down about 17 percent from EUR1.0 million realized in 2022.

Revenues from sales and services as of December 31 amounted to EUR1.7 million, a decrease of about 4.3 percent from the same period in the previous year of EUR1.8 million.

In fiscal 2022, revenues from sales and services were generated exclusively by the activity related to building renovations. In 2023, the company says in a note, "following the acquisition and subsequent merger with Tweppy only about 32 percent of total revenues are related to building renovations while about 68 percent are related to revenues generated by the software platform that optimizes management and communication for SMEs."

Ebitda as of Dec. 31, at EUR117,000, increased by triple digits from the previous period's negative EUR174,000.

Net financial position decreased to EUR900,000 from EUR1.1 million as of June 30, 2023. As of December 31, 2022, the NFP was EUR577,000. The change is mainly attributable to the cash absorption brought about by the purchase of the 100 percent stake in Tweppy Srl, consequently merged into the issuer on October 27, 2023.

Tweppy's stock closed Friday in the green by 0.5 percent at EUR0.98 per share.

By Chiara Bruschi, Alliance News reporter

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