(Alliance News) - Biesse Spa reported Friday that it ended the first half of the year with revenues almost stable year-on-year, at EUR418.2 million from EUR419.1 million in the same period a year earlier.

Revenues for the second quarter alone, however, show a figure of EUR208.7 million, down from EUR222.5 million in the second quarter a year earlier.

As of June 30, 2023, the order backlog amounted to EUR315 million, down 18 percent year-on-year, while as of December 31, 2022, the order backlog was EUR384.7 million. In the first half of the year, order intake - machines only - was lower compared to the same period 2022 by 21 percent, due to the effect of the disappearance of government incentives on the domestic market.

Ebitda fell to EUR47.0 million from EUR53.7 million in the six-month period and to EUR19.0 million from EUR27.6 million in the quarter.

Ebit also falls, to EUR30.3 million from EUR33.3 million in the first half and to EUR11.9 million from EUR18.1 million in the quarter. Net income rises to EUR19.5 million from EUR19.4 million in the first six months of the year and to EUR7.2 million from EUR9.6 million in the second quarter.

As of June 30, 2023, the Group's Net Financial Position was EUR91.9 million positive, including the impact of EUR21.3 million of higher debt resulting from the application of IFRS 16. Without the effects related to IFRS 16, the NFP would therefore be positive by EUR113.2 million. In the comparison with the end of FY2022, the indicator decreases by EUR24.7 million, mainly influenced by the dynamics of net working capital and the dividend payment managed in May totaling EUR9.0 million.

Biesse's stock is up 0.9 percent to EUR12.20 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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