FNM increases profit; gross operating margin almost stable

(Alliance News) - The board of directors of FNM Spa on Tuesday reviewed the first quarter accounts, closing with a total consolidated net profit of EUR14.5 million, up from EUR10.2 million recorded in the first quarter of 2023.

Revenues were EUR146.1 million compared to EUR143.7 million in the same period last year.

EBITDA was EUR48.8 million, essentially stable since the first quarter of 2023.

Total Net Financial Position as of March 31, 2024 is EUR740.6 million, compared to EUR549.8 million as of December 31, 2023.

"It should also be noted that as of today's date, the group has liquidity headroom of EUR135 million, including EUR95 million of uncommitted lines and EUR40 million of committed lines, which ensure an adequate margin of financial flexibility," the company note reads.

FNM closed Tuesday's session down 1.9 percent at EUR0.53.

By Maurizio Carta, Alliance News reporter

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