(Alliance News) - SosTravel.com Spa announced Tuesday that it has revised upward its outlook for fiscal year 2023, now estimating revenues of EUR19.5 million from the previous estimate of EUR18 million.

Ebitda is seen rising to EUR1 million from EUR455,000 in the initial estimate. In particular, the company estimates an improvement in margins also attributable to management's decision to focus on "empty-for-full" agreements in light of experience and historical results.

The return of air traffic and the new network airports where the Lost Luggage Concierge service is offered are bringing higher than expected volume growth. In this context, taking into account the growth of the company's business, the board of directors has considered possible changes or updates to the business plan for the coming years and will give timely disclosure to the market.

Carmine Colella, chief executive officer of Sostravel.com, said, "The early start of sales for the 2023 season, a choice we made in October 2022, has allowed us to improve occupancy rates at the opening of the season, with an interesting increase in profitability for the current year."

SosTravel.com's stock closed Tuesday down 0.5 percent at EUR1.09 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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