2023-09-27 09:46:06
(Alliance News) – Intred Spa on Wednesday announced a profit of 3.9 million euros for the first half of the year, down from 4.3 million euros recorded during the same period in 2022 , due to higher financial charges caused by rising interest rates.
Revenue increased to €24.5 million, an increase of 7.0% from €23.0 million recorded as of June 30, 2022, according to the half-yearly financial report approved by the board of directors . The increase in revenue was mainly due to sales of fiber optic connections, up 12% compared to the same period of the previous year.
Ebitda amounted to 10.7 million euros, up 12% from 9.6 million euros in the first half of 2022, with an Ebitda margin of 43.5%, up from 41 .1% as of June 30, 2022.
Ebit amounted to 6.0 million euros, in line with the first half of last year.
Net debt amounts to 19.3 million euros, compared to 11.5 million euros as of December 31, 2022.
December 2022.
Looking ahead, the company wrote in a note that “growth forecasts for the remainder of the year are largely positive. Also in the second half, revenue growth will be supported by sales of ultra-wideband services. The company’s development will be boosted by the ongoing investment program aimed at expanding the network throughout Lombardy.
We are therefore confident in the continued acceleration of results in the second half of the year, in particular thanks to the positive effects of school tenders; the constant growth in the number of customers and the good visibility on recurring revenues allow us to be confident in achieving further flattering results,” the press release continues.
The Intred share price is down 1.8% to 11.00 euros per share.
By Chiara Bruschi, journalist at Alliance News
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