(Alliance News) - Sogefi Spa reported Monday that in the first quarter it made a net profit of EUR15.0 million from EUR13.2 million in the same period 2023.

Revenues amounted to EUR263.2 million, down from EUR274.0 million in the same period of 2023.

Ebitda is EUR33.7 million from EUR25.8 million in the first quarter of 2023.

Ebit was EUR14.6 million from EUR6.5 million in the same period last year.

Net debt as of March 31 fell to EUR171.4 million from EUR200.7 million as of December 31, 2023 and EUR186.9 million as of March 31, 2023.

For 2024, the company expects, on a going-concern basis, low single-digit revenue growth, which is higher than forecast in the automotive market, operating profitability, excluding nonrecurring charges, to be higher than in 2023, and a positive net result.

Sogefi's stock trades in the red by 1.1 percent at EUR3.05 per share.

By Chiara Bruschi, Alliance News reporter

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