(Alliance News) - Monrif Spa reported Wednesday that it posted a loss of EUR2.4 million in the first quarter from a loss of EUR2.3 million in the same period a year earlier.

Revenues drop to EUR32.4 million from EUR35.3 million in the first quarter of the previous year.

Ebitda increases by 25 percent to EUR1.9 million from EUR1.5 million in the same period.

Ebit is negative EUR198,000 from EUR466,000 as of March 31, 2023.

Net financial position shows debt of EUR95.8 million from EUR94.6 million as of Dec. 31.

Monrif's stock is flat at EUR0.04 per share.

By Chiara Bruschi, Alliance News reporter

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