(Alliance News) - Emak Spa reported Tuesday that in the first nine months of the year it reported a consolidated net profit of EUR22.8 million, down from EUR37.1 million in the same period in 2022.

As of September 30, revenues stood at EUR449.9 million from EUR492.3 million in 2022.

During the period, adjusted Ebitda amounted to EUR60.5 million from EUR68.7 million in the first nine months of 2022.

Ebit was EUR38.3 million from EUR49.2 million in the nine months 2022.

Net financial position is negative EUR186.5 million from EUR181.6 million as of September 30, 2022 and at EUR177.3 million as of December 31, 2022.

Looking ahead, expectations for the fourth quarter are for moderate sales growth compared to the same period last year, the company explained in a note.

Emak trades in the green by 1.0 percent at EUR0.93 per share.

By Claudia Cavaliere, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.