(Alliance News) - MeglioQuesto Spa reported Wednesday that it closed 2023 with an expected value of production between EUR87 million and EUR89 million, up from EUR79.3 million in 2022.

Ebitda is expected to be between EUR2 million and EUR3.5 million compared to EUR11.8 million a year earlier due to incorrect planning of estimated fixed costs for sales of more than EUR100 million. Adjusted Ebitda, on the other hand, stands at EUR5-6 million from EUR13.1 million in 2022.

Net financial debt is EUR31 million to EUR33 million from EUR34.4 million as of September 30, 2023.

MeglioQuesto also announced that it has entered into the lawsuit brought before the Court of Milan by OMGroup, owner of 49% of MeglioQuesto Human Srl, a subsidiary of MeglioQuesto.

In joining the lawsuit, MeglioQuesto filed a counterclaim against OMGroup for an amount quantified at no less than EUR1.9 million, rejecting in full, in fact and in law, OMGroup's claims that, in the summer of 2023, the parties had finalized an alleged agreement to transfer, in one lump sum, the entire 49% of the stake held by OMGroup in MeglioQuesto Human for a consideration of EUR7 million.

MeglioQuesto's stock is down 9.2 percent at EUR0.35 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.