Mar 21, 2023

03/21/2023 | 01:32pm EDT Message : *Required fields (Alliance News) - The board of directors of Digital Magics Spa on Tuesday approved the consolidated financial statements as of Dec. 31, 2022, which closed with a net loss of EUR1.2 million after write-downs of EUR1.6 million, but an improvement on the 2021 loss of EUR3.3 million. Revenues stood at EUR4.4 million up 52 percent from EUR3.2 million in the previous year. Ebitda is positive EUR160,000, an improvement of more than EUR711,000 from the negative EUR552,000 a year earlier. Net financial position is positive EUR3.0 million, with cash and cash equivalents of EUR6.2 million. "The change in NFP-which was EUR5.6 million as of Dec. 31, 2021-"was affected in particular by the increase in trade receivables of EUR1.6 million as a result of the increase in sales concentrated in the last two months of the year," the company note reads. Digital Magics closed Tuesday's session in the red by 1.3 percent at EUR3.14 per share. By Maurizio Carta, Alliance News reporter