(Alliance News) - The board of directors of Aeffe Spa on Friday approved the management report as of March 31, closing the period with a net loss of EUR5.6 million compared to a loss of EUR300,000 in 2023 in the same period.

The Aeffe group had revenues of EUR80.2 million in the first quarter of 2024, compared to EUR93.2 million in 2023.

In the first quarter of 2024, consolidated Ebitda was positive by EUR6.3 million - accounting for 7.9 percent of revenues - registering a decrease compared to Ebitda in the first quarter of 2023 of EUR11.5 million, accounting for more than 12 percent of revenues.

Consolidated Ebit is negative EUR1.8 million compared to positive EUR3.2 million in 2023.

NFP is negative and EUR239.5 million, down from debt of EUR253.5 million at year-end 2023.

Aeffe on Friday trades in the red by 2.1 percent at EUR0.84 per share.

By Maurizio Carta, Alliance News reporter

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