(Alliance News) - Società Editoriale Il Fatto Spa reported Friday that it ended 2022 with a net profit of EUR2.5 million, which compares with EUR169,000 in the previous year.

Revenues dropped to EUR27.9 million from EUR32.5 million in the previous year while production value rose to EUR40 million to EUR38.4 million. SEIF started, in 2022, a transformation process aimed at enhancing the value of existing activities and business units that, over the years, have been created both for the purpose of revenue diversification and in order to make a transformation path in compliance with the founding values aimed at improving economic and financial indicators.

Ebitda rose to EUR7.1 million from EUR5.9 million, and operating profit increased to EUR1.3 million from EUR465,000. Pre-tax profit improved to EUR1.2 million from EUR453,000.

Current net financial position of EUR385,000 consists exclusively of cash and cash equivalents, net of portions of loans whose repayment instalments fall due in the 12 months following the year-end.

SEIF's stock closed Friday down 1.0 percent at EUR0.21 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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