(Alliance News) - Datalogic Spa reported Wednesday that it closed the first quarter with a profit of EUR6.0 million, up sharply from EUR3.2 million in the first three months of 2023 due to proceeds realized from the sale of Informatics Holdings, Inc.

Revenues amounted to EUR111.3 million, down from EUR145.5 million in the first three months of the previous year.

Adjusted Ebitda is EUR2.1 million from EUR12.9 million as of March 31, 2023.

Adjusted Ebit is negative EUR7.2 million from EUR3.2 million in the first three months of 2023.

Net financial position is negative EUR22.7 million, an improvement from EUR31.7 million as of Dec. 31, 2023.

Despite the uncertain environment, the company writes in a note, the group remains "confident in a gradual recovery," and "continues to pursue its innovation strategy to be ready to offer increasingly innovative solutions to its customers as markets normalize and, in order to mitigate the short-term impacts of declining volumes on profitability, also continues to be focused on continuous efficiency and cost optimization actions."

Datalogic's stock trades in the red by 1.0 percent at EUR5.83 per share.

By Chiara Bruschi, Alliance News reporter

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