(Alliance News) - Itway Spa on Wednesday reported that it closed 2023 with a pre-tax loss of EUR481,000 from one of EUR362,000 as of Dec. 31, 2022, while net loss was EUR330,000 from one of EUR348,000.

Revenues in the period stood at EUR49.1 million from EUR46.7 million in 2022.

Ebitda was worth EUR1.7 million from EUR2.2 million in the previous year; while Ebit was negative EUR562,000 from a positive EUR1.5 million in 2022 due to the write-down of old work in progress.

The company reported investments in R&D of EUR1.2 million.

Looking ahead, the company expects consolidated revenues in 2024 of EUR55 million and a target Ebitda of EUR3.6 million.

Itway is flat at EUR1.36 per share.

By Claudia Cavaliere, Alliance News reporter

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