(Alliance News) - The board of directors of Notorious Pictures Spa on Friday approved the consolidated half-year financial report as of June 30, reporting a year-on-year increase in profit to EUR2.5 million from EUR2.2 million in the same period last year, up nearly 13 percent due to the tax effect of exempt tax credits accrued during the half-year.

Revenues drop to EUR14.0 million from EUR17.6 million in H1 2022, despite an increase in revenues related to the operation of movie theaters to EUR3.5 million from EUR2.4 million in H1 2022.

Ebitda margin is positive at EUR5.7 million, showing a decrease of about 42 percent from the value in H1 2022 when it was EUR9.7 million. Ebitda margin is about 40% from 55% as of June 30, 2022.

Operating income is positive at EUR1.8 million, compared to the value in the first half of 2022 of about EUR2.7 million; margin on revenues is at nearly 13% from about 15% in the first half of 2022.

Net financial position of EUR27.3 million is up from EUR20.9 million as of December 31, 2022.

Notorious Pictures' stock rises 5.7 percent to EUR1.29 per share.

By Chiara Bruschi, Alliance News reporter

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