(Alliance News) - Finanza.tech Spa on Thursday reported that the board approved the draft financial statements for the year and consolidated financial statements as of Dec. 31, which closed with a net profit attributable to shareholders of EUR620,000 compared to EUR100,000 in the previous year.

Core revenues amounted to EUR10.64 million from EUR3.59 million as of Dec. 31, 2023, and related 93 percent to the "Tax Credit Transfer" service line of EUR9.93 million, 5.5 percent to the "Procurement Indirect Finance" service line of EUR580,000, and the remaining 1.1 percent to the other service lines totaling EUR120,000, including "Business Information and Consulting" activities.

Consolidated Ebitda is EUR2.1 million from EUR300,000 as of December 31, 2022, with margin at 19% from almost 9% as of December 31, 2022.

Net debt is positive-so net cash-at EUR630,000 from cash of EUR620,000 as of Dec. 31, 2022.

Looking ahead, the company writes in the note that "the consolidation of the market position and the continuation of the group's growth path is expected during 2024, a year in which further improvement of all industrial, economic and financial indicators is expected."

Finance.tech Thursday trades in the green by 5.9 percent at EUR0.9020 per share.

By Maurizio Carta, Alliance News reporter

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