(Alliance News) - Indel B Spa reported that in the first nine months of the year, sales revenues amounted to EUR172.2 million, down slightly by 0.1 percent from EUR172.4 million in the same period last year.

As of September 30, product sales revenue was EUR170.1 million from EUR169.6 million in 2022.

Luca Bora, chief executive officer Indel B, commented, "The very complex international geopolitical situation and the generalized rise in interest rates, did not prevent the group from confirming the record revenue levels of the corresponding previous period. The automotive market, which accounts for 65 percent of total revenues and in which the company has invested heavily, once again proved very resilient and posted a 7.4 percent increase. On the other hand, the group's other areas of operation, as we had predicted, were affected by the adverse trends in their respective markets. As we have already expressed in other circumstances, we confirm that also for these markets the expectations in the medium and long term remain positive both in relation to the foreseeable trend of these markets and to the specific actions that the group is taking, directed particularly at the development of the Leisure, Hospitality and Cooling Appliances markets."

Indel B closed, Friday, down 1.3 percent at EUR23.20 per share.

By Claudia Cavaliere, Alliance News reporter

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