(Alliance News) - TrenDevice Spa on Friday reported revenues of EUR19.5 million in 2023 from EUR19.8 million as of Dec. 31, 2022.

Revenues in the fourth quarter were EUR6.7 million from EUR6.4 million reported in the same quarter 2022.

Ebitda as of Dec. 31 was EUR1.9 million from EUR750,000 in the same period in 2022.

For the fourth quarter, Ebitda was EUR960,000 from EUR550,000 in the fourth quarter 2022.

Antonio Capaldo, chairman of the board of directors and co-founder of TrenDevice, commented, "We are extremely pleased with the margin recovery that took place during 2023, thanks to the decision to focus commercial energies on our direct channels, namely our proprietary e-commerce site and our retail stores, whose data-driven openings continued during the year, reaching 8 stores."

"Further benefits on Ebitda came from the cost containment operation launched at the end of the previous year. Finally, given the peculiar nature of TrenDevice's business, within the circular economy by its very nature, the Company has been able to benefit from some significant concessions related to the transformation processes in which Europe is engaged and from which we believe we can also benefit in the years to come."

TrenDevice on Friday closed 0.4 percent in the red at EUR0.25 per share.

By Claudia Cavaliere, Alliance News reporter

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