(Alliance News) - iVision Tech Spa reported that it ended 2023 with a net profit of EUR130,000 and operating income of EUR480,000.

The value of production as of December 31, 2023 was EUR10.5 million. This result is mainly due to group sales related to the core eyewear business that are generating the expected results and, in part, to a sale of masks made during the year with the related party iVision Srl.

Total consolidated sales revenues as of December 31, 2023 are EUR9.5 million. Sales revenue for eyewear as of December 31, 2023 is around EUR8.2 million. This value originates EUR5.7 million from the Labor Account, EUR1.5 million from the Full Account, and EUR940,000 from Semi-finished products.

Ebitda as of December 31, 2023 was EUR2.1 million, accounting for 20.3 percent of the value of production. Adjusted Ebitda, which is generated as a result of the partial release of the provision for risks and charges for EUR680,000, aimed at covering estimated future losses necessary to start the reindustrialization of the Martignacco site, acquired in 2020, constituting a noncaracterization income, as of December 31, 2023, turns out to be EUR1.5 million, with an incidence compared to the value of production of 13.8%.

Net financial debt was EUR2.7 million, with cash and cash equivalents of EUR2.2 million.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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