(Alliance News) - Talea Group Spa reported that it closed 2023 with a net loss of EUR7.5 million compared to a loss of EUR900,000 in the previous year.

In 2023, consolidated adjusted revenues stood at EUR136.3 million and up 13 percent from EUR120.9 million in fiscal 2022. Consolidated non-adjusted revenues in 2023 were EUR131.4 million compared to EUR116.3 million in 2022, up 13%.

Revenue performance was affected by a slowdown in growth during the fourth quarter, however in line with the relevant e-commerce market, due to a voluntary repositioning of the different brands in the portfolio to align with the new commercial strategy.

Trade margin stood at EUR35.9 million and down 6.3 percent from EUR38.4 million in 2022, accounting for 27.3 percent of sales. The trading margin, and the group's margins in general, were weighed down by the aforementioned slowdown in sales in the last quarter of the year and inflationary dynamics that impacted product purchase prices and other operating costs, such as personnel.

Adjusted Ebitda, adjusted for nonrecurring charges of EUR710,000, was negative EUR3.2 million compared to negative EUR2.5 million in 2022. The operating loss of EUR7.7 million compares with an operating loss of EUR60,000 in fiscal 2022, after depreciation and amortization of about EUR3.8 million from EUR2.2 million in 2022.

Talea Group's net financial debt was EUR38.9 million compared to EUR21.5 million as of December 31, 2022. The change from December 31, 2022 is attributable to the investments made during the period, related both to the projects to upgrade the new logistics platform in Nichelino, which became operational at the end of July 2023 and more than triples the group's logistics capacity thanks to more available logistics space and also more efficient automation systems, and to the acquisitions made during the period of the brands and domains of Doc Peter, Farmahome, Superfarma and Mood Concept Store.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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