(Alliance News) - Riba Mundo Tecnologia SA reported Friday that it closed the first half of the year with revenues up to EUR183.6 million from EUR121.4 million in the same period last year.

Gross margin rose to EUR9.3 million from EUR4.8 million while Ebitda increased to EUR3.9 million from EUR2.2 million. Operating income improved to EUR3.5 million from EUR3.4 million.

Net income, however, dropped to EUR900,000 from EUR2.3 million in the first half of 2022.

Net financial debt as of June 30 was EUR33.0 million and included cash and cash equivalents of EUR17.0 million compared to net financial debt of EUR17.1 million Dec. 31, 2022.

Riba Mundo Tecnologia's stock closed Friday unchanged at EUR23.00 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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