(Alliance News) - Triboo Spa announced on Friday that its board of directors has found consolidated revenues and adjusted Ebitda for the years 2023 and 2024 to be below the forecasts of the 2023-25 business plan, approved on March 15, 2023.

Specifically, preliminary management figures as of December 31 forecast consolidated revenues of about EUR80 million with an adjusted Ebitda margin of about 12 percent, the company specified in a note.

The business plan forecast as guidelines revenues growing to EUR123 million in 2025 -- from EUR93.4 million in 2022 -- and Ebitda growing to EUR22 million in 2025 from EUR11.7 million in 2022.

Although, the statement said, "the last quarter witnessed a positive turnaround from previous months, which led to an improvement in performance," the 2023-25 business plan was considered no longer relevant" and the board therefore "resolved to withdraw" these forecasts.

"The reasons for these deviations are to be found in the period characterized by the continuation of the situation of macroeconomic tension at the Italian and global level, also driven by the effects of inflation and the increase in interest rates on purchases, and consequently by a context of high uncertainty in the reference markets, which characterized especially the first nine months of the year with main reference to retail sales of e-commerce sites managed by Triboo and investments by companies in marketing, advertising and content creation services offered by the group," the company further specifies.

The board of directors will proceed in the first useful meeting to update the business plan.

Triboo's stock closed Friday up 1.1 percent at EUR0.75 per share.

By Chiara Bruschi, Alliance News reporter

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