(Alliance News) - SG Company Spa reported Thursday that it closed the first half of the year with a profit of EUR106,000 from a loss of EUR104,000 in the same period last year.

As of June 30, turnover was EUR12.0 million, up from EUR8.1 million in the first half of 2022.

Ebitda is negative EUR224,000 from negative EUR52,000 as of June 30, 2022.

Ebit is negativp of EUR232,000 from a negative EUR52,000 in the first half of 2022.

Net financial position is EUR4.9 million from EUR3.1 million as of December 31, 2022.

In August, SG Company SB signed a binding agreement to acquire a 20.224% stake in Socialbroker Srl, through the investment of EUR975,000 in the capital increase that the company made for the development and implementation of its business.

On September 27, the company signed a binding agreement to purchase 51% of the share capital of Geotag Srl. The price of the acquisition was agreed at EUR1.1 million, to be paid in two tranches: the first on Dec. 4, at the closing of the transaction, and the second by May 31, 2024, at the latest.

The company let it be known that "the two M&A transactions concluded a few weeks ago will bring both significant turnovers and positive profitability to the group, which will help group results as early as the next annual report."

SG Company trades in the green by 3.5 percent at EUR0.26 per share.

By Claudia Cavaliere, Alliance News reporter

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