MILAN (AIMnews.it) – The Value of Production for Digital Magics grew by 54.6% in the first half of 2018. The figure goes from 1.18 million as of June 30th 2017 to 1.82 million as of June 30th 2018. The increase was driven by revenues (1.43 Eu m) deriving from the new Open Innovation programs and the ‘Magic Wand – FinTech and InsurTech’ acceleration program, as shown in the half-year report as of June 30th 2018 approved by the Board. The EBITDA stands at 36,000 Eu, an improvement of about 450,000 Eu vs. 1H 2017, benefiting from a constant and careful management of operating costs. A change in EBIT, albeit negatively: from 0.6 to 0.3 Eu m. Net Financial Position is 1.4 Eu m (vs. 2.4 Eu m as of 12/31/2017). There are 63 operating companies in the portfolio, of which 31 are Innovative Startups and 9 Innovative SMEs. “It was a very positive semester, – commented Alberto Fioravanti, Founder, President and Chief Technology Officer of Digital Magics – in which we achieved excellent economic results both in terms of the Open Innovation programs and services to subsidiaries, with an ever-increasing focus on the technological component, essential for the success of the initiatives in this sector. Also important was the opening of our London office, in partnership with iStarter, to support our scaleups that are ready to face international development.” “We have concentrated our resources on strategic development and entrepreneurial initiatives that are most likely to succeed. – adds Marco Gay, CEO of Digital Magics – Thanks to the partnership with StarTIP, launched in 2017 by Tamburi Investment Partners. With a budget of up to 100 million euros, we have strengthened the national and international growth of two startups in the Digital Magics portfolio, in particular Buzzoole (among the most important ‘influencer marketing’ platforms at international level) and Centy (the first smart banknote counter, managed totally through apps), in which StarTIP has recently invested.” “With a fast growing digital market in Italy in 2018, – concludes Digital Magics CFO Alessandro Malacart – the results and positioning of Digital Magics has improved significantly, in line with the business model that we are pursuing with determination; if these conditions remain, the goal of a historic break-even is much closer.”