(Alliance News) - Zignago Vetro Spa reported Monday that net income in the first quarter of the year dropped to EUR11.8 million from EUR29.7 million as of March 31, 2023.

Revenues in the period stood at EUR158.3 million from EUR198.0 million, down 20 percent from 2023.

Ebitda stood at EUR34.4 million from EUR57.1 million, down 40 percent from last year's first quarter.

Ebit was EUR16.8 million, down 585 from EUR39.9 million in 2023.

Group net debt as of March 31 was EUR220.0 million from EUR227.9 million as of Dec. 31, 2023.

Zignago Vetro trades in the green by 2.2 percent at EUR12.82 per share.

By Claudia Cavaliere, Alliance News reporter

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