(Alliance News) - Monnalisa Spa reported Friday that it closed the half-year with a loss of EUR3.6 million from a loss of EUR1.5 million in the same period last year.

As of June 30, consolidated revenues stood at EUR21.9 million from EUR22.6 million in the first half of 2022.

Adjusted Ebitda was EUR2.0 million from EUR2.2 million as of June 30, 2022.

Adjusted Ebit is negative EUR1.5 million, an improvement of 15 percent from H1 2022.

Net financial debt including the effects of IFRS 16 accounting standard is EUR29.4 million from EUR28.9 million at the end of last year.

The company said it has made good "progress in implementing its development plan, with the signing of the license agreement for the production and distribution of children's clothing, accessories and footwear with the iconic La Martina brand, the benefits of which will be visible from the second half of next year."

Monnalisa on Friday closed flat at EUR2.60 per share.

By Claudia Cavaliere, Alliance News reporter

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