(Alliance News) - Datalogic Spa reported Thursday that it ended the first nine months with revenues down to EUR417.0 million from EUR476.5 million in the same period a year earlier, with declines recorded in all geographies in which it operates.

Gross contribution margin, at EUR177.1 million compared to EUR192.3 million as of September 30, 2022, improved as a percentage of sales to 42.5 percent from 40.4 percent compared to the same period last year, thanks to positive price and mix trends and industrial efficiencies that offset the negative effects of lower sales.

Adjusted Ebitda dropped to EUR43.3 million from EUR56.3 million, adjusted operating income fell to EUR19.5 million from EUR33.3 million, and reported operating income decreased to EUR13.6 million from EUR27.5 million.

The nine months ended with a profit of EUR10.8 million compared to EUR15.3 million a year earlier.

Net debt as of Sept. 30 was EUR44.2 million, an improvement of EUR39.5 million from Sept. 30, 2022 but a deterioration of EUR2.2 million from Dec. 31, 2022.

Datalogic's stock closed Thursday up 1.3 percent at EUR6.00 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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