(Alliance News) - Cloudia Research Spa reported that it ended 2023 with a net profit of EUR650,000, which compares with EUR480,000 in the previous year.

Value of production increased to EUR7.1 million from EUR4.7 million due to organic growth in all business lines while revenues from operations stood at EUR6.1 million compared to EUR4.4 million in 2022.

Ebitda improved to EUR1.3 million from EUR790,000, with margin on sales of 18 percent from 17 percent a year earlier. Operating income increased EUR760,000 from EUR640,000 in 2022.

Net financial position as of December 31, 2023 totaled EUR720,000, an improvement from the previous year when it was EUR1.1 million, mainly due to the capital increase that took place when the company was listed on the EGM.

Cloudia Research's stock is down 1.7 percent at EUR4.62 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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