(Alliance News) - Cairo Communication Spa announced Tuesday that its board of directors reviewed some preliminary consolidated figures for fiscal year 2023, which closed with revenues at EUR1.16 billion from EUR1.18 billion a year earlier.

Ebitda increased to EUR167.5 million from EUR147.1 million in 2022.

Net financial debt is EUR4.8 million from EUR15.2 million in the previous year.

As for the future, in the absence of a worsening of the consequences attributable to the continuation and developments of the conflicts in Ukraine and the Middle East and/or cost dynamics, "the group believes that it is possible to set itself the goal of achieving strongly positive margins in 2024, up from those achieved in 2023, and to continue with further cash generation from operations," the company's statement reads.

The draft budget will be reviewed by the Board of Directors on March 28.

Cairo Communication's stock trades in the red by 1.1 percent at EUR1.84 per share.

By Chiara Bruschi, Alliance News reporter

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