(The previous article published on September 5 incorrectly reported the name of the company Giglio Group Spa while the half-year figures commented on were those for the company Giglio.com Spa. Giglio Group's results were published instead on Sept. 12)

(Alliance News) - Giglio.com Spa announced on Tuesday, Sept. 5, that it has reduced its first-half loss to EUR900,000 from one of EUR1.6 million in the same period last year.

Sales revenues amounted to EUR27.1 million, up 23 percent from EUR22.0 million as of June 30, 2022.

Ebitda margin is negative EUR200,000, improving from a negative EUR1 million in the first half of 2022.

Adjusted Net Financial Position as of June 30 totaled EUR8.5 million compared to EUR11.9 million as of December 31, 2022.

The number of new customers acquired in the six-month period marks a growth of 29 percent thanks to a lower acquisition cost compared to the first half of 2022. The customer base thus exceeds 145,000 active customers in the past 12 months.

Looking ahead, "in light of the uncertain macroeconomic scenario and consistent with the priorities already pursued in the first half of the year, the company will continue to set as its goal a return to profitability through a prudent approach to costs. Growth will therefore be sought through cost-effective strategies such as the development of international markets as well as catalog depth and breadth through new brands and product categories ensured by the evolution of the community store," the company said in a note.

Giglio.com trades in the red by 0.9 percent at EUR2.10 per share.

By Claudia Cavaliere, Alliance News reporter

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