Cellularline closes first nine months with rising revenues

(Alliance News) - Cellularline Spa reported Wednesday that in the first nine months of the year, the group achieved sales revenues of EUR112.1 million, up 18 percent from EUR95.3 million in the same period last year, thanks to increased sales in both domestic and international markets.

Operating income was EUR2.1 million from a negative EUR41.5 million as of September 30, 2022.

Adjusted Ebitda was EUR12.9 million in the period under review, up EUR2.0 million from the same period last year.

Group adjusted Ebitda for the first nine months was EUR4.0 million from EUR3.7

million as of September 30, 2022.

Net loss is EUR300,000 from a loss of EUR40.1 million in the first nine months of 2022.

Net financial debt as of September 30 was EUR45.6 million from EUR40.4 million at

end of 2022 and an improvement over the June 30 figure of EUR48.6 million.

On the basis of the growth recorded in the first nine months, the actions taken by management, and the performance of the end markets, "the group expects a positive evolution of the corporate result compared to the previous year," the company's note says.

Cellularline's stock on Wednesday closed in the red by 0.9 percent at EUR2.22 per share.

By Chiara Bruschi, Alliance News reporter

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