(Alliance News) - Caleffi Spa on Wednesday reported that in the first nine months consolidated revenues stood at around EUR40.7 million, an increase of 2.0 percent compared to September 30, 2022 , when they stood at EUR39.9 million.

Guido Ferretti, corporate managing director of Caleffi commented, "The current geopolitical and economic context, between the post-pandemic rearrangements in the demand for goods, the escalation of conflicts in the Ukrainian region first and then in Israel, inflation, and restrictive monetary policies, have led to a significant slowdown in terms of GDP and household consumption levels. Making forecasts in such a context is particularly complex, but we believe, in light of the evolution of sales in recent months, that we are targeting a turnover in the region of EUR58.5 million, substantially in line with the previous year, with an Ebitda margin of between 8.0% and 9.0%."

Caleffi trades in the red by 0.9 percent at EUR0.88 per share.

By Claudia Cavaliere, Alliance News reporter

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