(Alliance News) - Danieli Spa reported Thursday that it closed the first half of the year 2023/2024 on Dec. 31 with a profit of EUR98.8 million, up 33 percent from EUR74.1 million in the same period last year.

Operating income amounted to EUR2.07 billion from EUR1.87 billion as of Dec. 31, 2022. "The results for the first half of 2023/2024 confirm forecasts of declining profitability in steel production and improvement in steel plant design and supply. The two activities continue to offset each other in the 'up and down' of economic cycles, the company points out."

Ebitda is EUR160.6 million from EUR145.5 million in the first half of the previous year, up 10 percent driven by the results of the Danieli Plant Making business.

Operating income is EUR90.4 million from EUR85.0 million recorded as of December 31, 2022.

Net financial position is positive EUR1.67 billion from EUR1.60 billion as of June 30, 2023.

Danieli & C's stock closed down 2.5 percent at EUR23.40 per share.

By Chiara Bruschi, Alliance News reporter

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