AURES Technologies (FR:ALAUR) has released an update.
AURES Technologies faced a challenging fiscal year 2023, experiencing a significant 16.47% decrease in revenue and a substantial operating loss of €10.514 million, attributed to high inventory levels, cash flow tensions, and a considerable impairment charge on software activity assets. Despite a gross margin improvement, the company’s net result fell sharply due to these factors and a negative financial result influenced by foreign exchange market fluctuations. The second half of the year saw a slight improvement in operating results, although overall performance remained in the negative.
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