MILAN (Reuters) - Tod's closes 2023 with group net income at 50 million euros, equal to 4.4 percent of revenues and more than double the 2022 figure.

Revenues, already disclosed to the market, amounted to 1,126.7 million, up 11.9 percent from 2022. At constant exchange rates, that is, using the same average exchange rates as in 2022, including hedging effects, revenues would be 1,147.5 million, an increase of 14.0 percent over 2022, the statement added.

In compliance with the framework agreement signed in connection with the tender offer launched on Feb. 10 on Tod's shares, the board decided to propose to the shareholders' meeting not to approve the distribution of dividends.

In addition, the board, taking into account the expected change in the BoD, considered it appropriate to delay the date of approval of sales data for the first three months of the year from April 24 to May 15, in order to allow the new directors to take a full view of the documentation on which they are called to deliberate.

(Giancarlo Navach, editing Francesca Piscioneri)