(Alliance News) - Italian Sea Group Spa reported Wednesday that it closed the first quarter with revenues of EUR95.6 million, up 12 percent from EUR85.2 million in the same period last year.

Ebitda rose 17 percent to EUR16.1 million from EUR13.8 million, with margin up to 16.8 percent from 16.2 percent.

Total order value is EUR1.34 billion as of March 31 while net backlog is EUR667.4 million.

Net financial position is negative EUR25 million and compares with positive EUR2 million as of December 31, 2023.

In light of the first quarter's accounts, the company confirmed its guidance for 2024, which calls for revenues of EUR400-420 million and an Ebitda margin between 17 percent and 17.5 percent. For 2025, TISG estimates revenues of EUR430-450 million.

TISG's stock is down 0.8 percent at EUR9.73 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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