Silvano Fashion Group saw revenue decrease but net profit increase in first 6 months of 2024.

From GlobeNewswire: 2024-08-28 16:59:00

Selected financial indicators for AS Silvano Fashion Group for the first 6 months of 2024 saw a 4.0% decrease in revenue but a 43,6% increase in net profit compared to the same period in 2023. Total assets increased by 11.5% as of June 30, 2024, compared to December 31, 2023. Operating cash flow decreased by 61.7% during the same period.

During the first 6 months of 2024, the Group’s investments in property, plant, and equipment totaled 476 thousand EUR, a decrease from the previous year. The Group employed 1,625 people as of June 30, 2024, with total salaries and related taxes amounting to 7,117 thousand EUR. The Group’s net profit was left undistributed from the financial year 2023.

In March and May of 2024, AS Silvano Fashion Group held extraordinary and annual general meetings of shareholders, respectively, adopting decisions regarding the appointment of auditors and the approval of the 2023 Annual Report. The Group’s consolidated assets amounted to 80,534 thousand EUR as of June 30, 2024, with a total equity of 64,409 thousand EUR.

The Group’s financial performance in the first 6 months of 2024 showed a decrease in revenue but an increase in net profit compared to the same period in 2023. Investments were made into property and equipment, and key decisions were made during shareholder meetings. Total assets and equity saw an increase, while operating cash flow decreased during the period.



Read more at GlobeNewswire:: Silvano Fashion Group Consolidated Interim Financial Report