Airtificial closes with losses. The technology company finds itself with a loss in the first half of the year worth 3.1 million euros, which represents more than tripling its ‘red numbers’ from the same period of the previous year, despite improving its figure by 17%. billing.
The negative net result is due to the necessary expenses that the company has had to make to finance industrial technological growth, typical of the moment in which it finds itself, as well as the increase in financial expenses generalized in the market.
However, according to the results report presented to the National Securities and Markets Commission (CNMV), Airtificial has earned 17% more in the first half compared to the same six months of 2022, reaching 49 million . of euros in billing.
The company’s geographic and product diversification strategy has begun to translate into improved business figures. Airtificial has not only improved its consolidated operating results but also those of each of its divisions.
Thus, Intelligent Robots has achieved a turnover of 27.3 million euros (22% more than the previous year); Aerospace & Defense has reached 14.4 million euros (21% more); Inypsa’s Civil Works have achieved 7.3 million euros (a 1% increase).
Furthermore, geographical diversification has allowed the company to distribute the origin of its turnover. Thus, 28% of its turnover comes from Spain, 42% from America, 25% from the rest of Europe and, finally, 5% comes from Asia. In this last geographical area, the company hopes to continue growing in the future.
For its part, the gross operating result (Ebitda) was 2.5 million euros, which represents an increase of 56% compared to the 1.6 million in the same period of 2022. In turn, the company has managed to obtain a positive operating cash flow.
Path to operational profitability
Airtificial has embarked on the path towards operational profitability in 2023 with the development of a new group strategy based on the generation of intragroup, engineering, technology and manufacturing synergies between the three business units, which allow expanding and improving the technological offer. industrial companies of the company.
In this sense, Airtificial already has a portfolio of signed contracts worth 191 million euros. Some of these contracts allow entry into high-growth markets and sectors such as hybrid and electric automotive, water management or new energy technologies.
The better prospects for the group’s future have been reflected in the stock market performance in the first half of the year. Firstly, the share price closed on June 30, 2023 at 0.099 euros, 27% more than the price at the close of that same day in 2022.
The stock market value at the end of the first half of 2023 represented a market capitalization of 132 million euros, 3.5% more than the 127.5 million in the same period of 2022. Secondly, the average stock market trading volume has reached a daily average of 8.6 million titles during the first half of the year, 579% more than the average of 1.2 million the previous year.
Meanwhile, the company continues to implement structural improvements to adjust to its reality and business volume. In this sense, the board of directors, chaired by Eduardo Montes, approved on September 6 to increase the functions of the Audit Commission and name it the Audit and Sustainability Commission. Director Silvia Iranzo has been appointed to lead the implementation of the best sustainability criteria and good practices in the company.
The CEO of the Company, Guillermo Fernández de Peñaranda, has signed that during the remainder of 2023, Airtificial will gain momentum on the pillars of growth in all business lines, the fruits derived from the commitment to geographical diversification and product and transversality between units “with a special focus on sustainability.”
