CLASS EDITORI SPA (Alliance News) - Class Editori Spa reported first-quarter revenues of EUR19.6 million, up 13 percent from the first quarter of the previous year.
This improvement is attributable to the development of the digital area and the activities of Gambero Rosso Spa in addition to the partial recovery of advertising sales compared to the same period in 2022.
Ebitda at the consolidated level is positive at EUR2.3 million, up 28 percent compared to the first quarter of 2022. Depreciation and amortization amounted to EUR2.0 million, broadly in line with the figure for the first three months of the previous year.
Ebit at the consolidated level was a positive EUR250,000 compared to an operating loss of EUR140,000 in the first quarter of the previous year.
Net financial expenses for the quarter amounted to EUR530,000, down from EUR930,000 in the first quarter of 2022, mainly due to the reduction of borrowings as part of the financial maneuver finalized in December 2022.
The group's consolidated net result was a loss of EUR610,000, an improvement from the loss of EUR1.30 million in the first quarter of 2022.
The actual Net Financial Position of the publishing house shown in the statement of financial position has a negative balance of EUR23.7 million as of March 31, 2023 compared to EUR24.0 million as of December 31, 2022.
By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter
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