(Alliance News) - Triboo Spa reported that it closed the first nine months with revenues down to EUR57.6 million from EUR68.7 million in the same period last year.

Adjusted Ebitda decreased to EUR5.4 million EUR8.7 million, with the Digital division reporting adjusted Ebitda of EUR5.3 million and the Media division reporting EUR1.5 million.

The Group's Net Financial Position as of September 30 was negative EUR15.9 million, of which financial liabilities for rent and leasing, accounted for in accordance with IFRS 16, amounted to about EUR4.4 million.

"In the first nine months of the year, despite operating in an exceptionally difficult macroeconomic and market environment that inevitably impacted revenue performance, the group was able to maintain positive margins thanks to targeted strategic actions to rationalize processes and make the cost structure more efficient, while at the same time laying the foundations for future growth through investment in new technologies and skills that can enable the group to expand its digital transformation factory offerings capable of supporting its customers across the board in the digital transition process," said Giulio Corno, CEO of Triboo.

"We are confident that in the last quarter of the year, which historically represents a very important period for the group's business thanks to events such as Black Friday and the holiday season, we will have an important increase in both revenues and margins."

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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