(Alliance News) - ESI Spa reported Monday that it closed 2023 with a loss of EUR1.7 million from one for EUR22,000 as of Dec. 31, 2022.

During the period, production value stood at EUR17.0 million, down from EUR30.5 million in 2022.

Ebitda was negative EUR1.6 million from EUR1.2 million in 2022. Ebit was also negative and EUR2.0 million from EUR720,000 in the previous year.

Net financial position as of Dec. 31 was cash negative EUR810,000, improving from a cash negative EUR2.3 million in 2022.

Looking ahead, the company let it be known that the outlook is favorable for revenues and Ebitda due to the acquired backlog. In fact, the backlog in 2023 grew by 237 percent compared to 2022.

The order backlog has grown to EUR51.7 million from EUR15.3 million as of Dec. 31, 2022.

On Monday, ESI closed in the green by 5.3 percent at EUR2.18 per share.

By Claudia Cavaliere, Alliance News reporter

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