(Alliance News) - Mittel Spa on Wednesday disclosed that it closed the first half of the year with an adjusted profit of EUR45.4 million after the completion of the sale of the Zaffiro group for a consideration of EUR42 million and the robust performance in the first half of the year of the group's other investment verticals.

Group net income, net of the Sapphire transaction, would have been EUR3.6 million from EUR409,000 in 2022.

As of June 30, consolidated revenues amounted to EUR67.3 million, down from EUR73.2 million in the same period last year.

Operating Ebitda for the period was EUR6.5 million from EUR8.0 million as of June 30, 2022.

Ebit is negative EUR554,000 from positive EUR5.3 million in the first half of 2022.

Net financial position of Mittel and the holding system is positive EUR77.4 million, up sharply from EUR53.3 million as of Dec. 31, 2022.

With an eye to the future, "the group's results in the coming months, thanks also to the contribution of the new operating segment to the group's income results, should confirm, compatibly with the difficult market environment, the important growth path achieved so far as a dynamic and efficient industrial holding company, with a strong focus on further enhancing the important investments made in recent years and on strategies for further development and with the objective of creating sustainable value in the long term for shareholders and all stakeholders."

Mittel trades in the green by 2.0 percent at EUR1.50 per share.

By Claudia Cavaliere, Alliance News reporter

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