(AOF) – A pioneer in foodtech specializing in temperature measurement, Mastrad widens its losses in the first half of the year, which amounted to 1.42 million euros compared to 1.21 million euros a year ago. On the other hand, the group reduced its operating loss from 1.44 to 1.32 million euros over this half year over one year. Its EBITDA is negative at 1 million euros compared to -745,000 a year earlier. In addition, its sales fell by 9.8% to reach 6.32 million euros.
In January 2023, the company carried out a settlement of its liabilities via a capital reduction by reducing the par value of the shares.
Then, in February 2023, Mastrad carried out a capital increase for a gross amount of 3.5 million euros (including 2.6 million euros released by offsetting receivables relating in particular to convertible bond debt) which This is reflected in the issue of 58,523,208 new shares at a unit subscription price of 0.06 euros.
This allowed Mastrad to return to a healthy financial situation with strengthened equity and positive net cash flow.
Thus, at the end of June 2023, after the capital increase, available cash amounted to 600,000 euros, for a financial debt of 1.8 million euros, and equity of 3.1 million euros.
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