(Alliance News) - Reway Group Spa reported Friday that it closed the first half of the year with a value of production of EUR54.7 million, down from EUR56.2 million in the same period last year.

Ebitda was virtually unchanged at EUR10.6 million while operating income fell to EUR8.9 million from EUR9.7 million.

Net income decreased to EUR5.8 million from EUR6.8 million as of June 30, 2022.

The company recorded EUR4.8 million in net cash, an improvement from net debt of EUR3.9 million as of Dec. 31, 2022, mainly due to the cash raised upon listing on the Euronext Growth Milan market and the reduction in current and non-current financial debt attributable to the repayment of outstanding loans as per the normal amortization schedule.

Reway Group's stock closed Friday unchanged at EUR3.93 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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