(Alliance News) - DHH Spa reported Friday that in the first nine months of the year it reported adjusted net income of EUR2.5 million, up 32 percent from EUR1.9 million in the same period last year.

As of September 30, consolidated revenues stood at EUR25.6 million from EUR20.7 million, up 24% from the first nine months of 2022, and with recurring revenues accounting for about 95% of total revenues.

Adjusted Ebitda for the period is worth EUR8.4 million, up 34% from EUR6.3 million.

Adjusted Ebit for the nine months is EUR4.3 million from EUR3.2 million in the same period 2022 and up 36%.

Net financial position is debt of EUR7.8 million, including cash and cash equivalents of EUR10.1 million.

Organic growth was 10%. The company pointed out that all group companies showed revenue growth: among the best were Slovenian cloud hosting provider Webtasy, which grew 16 percent, and Italian cloud computing provider Seeweb, the group's main company from a size perspective, which grew 12 percent.

By Claudia Cavaliere, Alliance News reporter

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