(Alliance News) - LU-VE Spa on Monday reported that profit in the first nine months stood at EUR27.2 million compared to EUR45.4 million in the same period last year.

As of September 30, product sales stood at EUR460 million from EUR456.7 million in 2022.

Order backlog stood at EUR172 million, down 12 percent from 2022.

Ebitda stood at EUR61.2 million from EUR59.6 million in the first nine months of 2022. The adjusted one amounted to EUR62.5 million.

Net financial position was negative EUR167.6 million from EUR142.3 million as of December 31, 2022.

Looking to the future, "In a deteriorating macroeconomic scenario globally and characterized by high uncertainty, the group is working with great commitment and determination to preserve profitability, even in the presence of wider volatility in the expected results in terms of turnover, and expects a last quarter in the overall economic-financial magnitudes substantially in line with the corresponding period of 2022," the company explained in a note.

LU-VE trades in the green by 1.0 percent at EUR19.22 per share.

By Claudia Cavaliere, Alliance News reporter

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