(Alliance News) - Valtecne Spa reported Thursday that it closed the first quarter with revenues of EUR8.4 million from EUR8.3 million in the same period a year earlier.

Paolo Mainetti, chief executive officer of Valtecne, commented, "This slight growth was accompanied by a significant shift in our business mix: the medical sector continued its positive trend by growing by 16 percent to account for about two-thirds of our total revenues, while the industrial sector contracted by 20 percent, consistent with current European macroeconomic conditions."

"These results reflect the strategy communicated to the market during the listing process, and which we are tenaciously pursuing, aimed at an increasing presence in the medical sector, which continues its expansion phase, albeit with lower growth rates than in the recent past. We look to 2024 as a year of consolidation in which to lay the foundations for future growth both organically and inorganically."

Valtecne gives up 2.5 percent to EUR5.95 per share.

By Chiara Bruschi, Alliance News reporter

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