(Alliance News) - Vimi Fasteners Spa reported Friday that it ended the first quarter with revenues of EUR14.6 million compared with EUR14.4 million in the same period last year.

The value of the group's order backlog as of March 31, 2024, based on the current fiscal year and net of turnover value, was EUR31.8 million, down slightly in line with the market trend from an order backlog of EUR32.8 million recorded as of March 31, 2023.

As of March 31, 2024, consolidated net financial debt shows EUR22.8 million, an improvement from EUR23.9 million as of December 31, 2023. The total amount of net financial debt includes EUR4.1 million resulting from the accounting of rental and lease agreements in accordance with IFRS16 compared to the value of EUR4.3 million as of December 31, 2023, and EUR4.5 million representing the consideration still to be paid for the acquisition of Filostamp Srl.

Vimi Fasteners' stock closed Friday at par at EUR1.37 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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