(Alliance News) - The board of directors of Triboo Spa on Thursday approved financial data as of March 31, 2023, reporting consolidated revenues at EUR22.6 million down slightly from EUR24.8 million in the same period of 2022. On a like-for-like basis, consolidated revenues increased 2.6 percent to EUR22.6 million from EUR22.0 million in the first quarter of 2022.

Consolidated Ebitda is EUR2.9 million compared to EUR3.9 million as of March 31, 2022.

Group net financial position as of March 31, 2023 is negative EUR15.6 million compared to net debt of EUR10.5 million as of December 31, 2022, depending on the seasonality of the business. Net debt as of March 31, 2023 includes financial liabilities for rentals and leases, accounted for in accordance with IFRS 16, of EUR5.3 million.

In detail, the Digital division records revenues of EUR17.9 million with an Ebitda of EUR2.7 million; considering the like-for-like consolidation scope, the division shows a growth in terms of revenues of 9.1 percent and in terms of margins of 5.3 percent compared to March 31, 2022, the company explains in a note.

The media division, meanwhile, closed the first three months of the year with revenues of EUR5.2 million and a margin of EUR400,000.

This is the comment of Giulio Corno, CEO of Triboo: "The actions implemented in the first months of the year, in terms of technological investments, optimization of the cost structure and strengthening of the management, have brought the first results already? from the final figures as of March 31, 2023."

"These results benefit in particular from the internal reorganization of the Digital division which, on a like-for-like basis, in fact closes the first three months of the year in growth, both in terms of revenues and margins. The quarter closed with positive results, in line with our expectations, which confirm the group's resilience and its innovative soul, validating the growth path defined by the new Industrial Plan 2023- 2025."

Triboo closed Monday in the green by 0.2 percent at EUR0.98 per share.

By Chiara Bruschi, Alliance News reporter

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