(Alliance News) - IVS Group Spa reported Tuesday that it closed the first quarter of the year with a profit of EUR2.7 million from EUR3.0 million in the first quarter of 2023. Adjusted net income net of items considered non-recurring was EUR3.4 million, up from EUR3.9 million in March 2023, impacted by negative foreign exchange differences in the period of about EUR300,000.

Revenues for the period amounted to EUR183.1 million, down from EUR183.6 million in the first quarter of 2023.

Ebitda was EUR28.9 million from about EUR27.1 million in March 2023, up 7.0 percent.

Consolidated adjusted Ebitda is EUR29.1 million, up 3.6% from EUR28.1 million in March 2023.

Consolidated adjusted Ebit increased 9.2% to EUR9.5 million from EUR8.7 million as of March 31, 2023.

Net financial position is negative EUR422.8 million compared to EUR421.1 million at the end of 2023.

IVS Group closed Tuesday up 0.6 percent to EUR7.16 per share.

By Chiara Bruschi, Alliance News reporter

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