(Alliance News) - Next Re SIIQ Spa announced Tuesday that its board of directors reviewed and approved preliminary figures as of December 31, 2023, reporting a loss of EUR9.2 million from a profit of EUR350,000 in 2022.

The preliminary consolidated net result, the company specified in a note, "reflects the EUR6.8 million negative change in the fair value of assets in the portfolio following the adjustment of asset values as estimated by the independent expert. The preliminary negative result also reflects the impact of the write-down of deferred tax assets of EUR200,000."

Preliminary consolidated Ebitda is negative EUR600,000 from a positive EUR30,000 in 2022.

Preliminary consolidated financial debt increased by EUR3.9 million from December 31, 2022. The change, the company points out, is mainly attributable to the reduction in financial debts as a result of early repayments of bank loans and real estate leases totaling EUR6.3 million and the increase, due to the recognition of interest accrued during the year in the amount of EUR1.3 million, in financial debts related to credit facility agreements provided by CPI Property Group S.A. for which the company has the option to repay at maturity in 2026, and financial outgoings related to the aforementioned settlement agreements.

Full annual figures, the company says, will be approved on March 12.

Next Re SIIQ's stock on Tuesday closed up 2.5 percent at EUR3.30 per share.

By Chiara Bruschi, Alliance News reporter

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