(Alliance News) - iVision Tech Spa reported Tuesday evening that the board reviewed and approved its half-year financial report as of June 30. The company's net income for the period was EUR100,000, up from a loss of about EUR200,000 in the same period last year.

iVision Tech ended the first half of 2023 with a 2 percent increase in value of production over the same period of the previous year to EUR4.9 million from EUR4.8 million as of June 30, 2022. Sales revenue is also up, rising to EUR4.4 million from EUR3.3 million as of June 30, 2022.

Ebitda increases to about EUR1.0 million in the first half from EUR300,000 as of June 30, 2022. As a percentage of value of production, it also increases to 20.0 percent from 6.5 percent, due to "both greater production efficiency related to economies of scale due to higher volumes produced and higher margins generated by the sale of eyewear," the company writes in the released note.

Ebit as of June 30 was positive and equal to EUR300,000 up from the negative EUR200,000 recorded as of June 30, 2022, "in line with the increase in sales," the company comments.

Net financial debt as of June 30 was EUR3.6 million, while as of Dec. 31, 2022, the figure was EUR2.9 million.

iVision Tech closed Tuesday's session flat at EUR1.54 per share.

By Maurizio Carta, Alliance News reporter

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