(Alliance News) - I Grandi Viaggi Spa reported on Friday that it closed the first quarter of 2024 with a loss of EUR1.3 million, "due to seasonality," the company pointed out in a note, and in line with the negative result for the same period last year.

Revenues fall to EUR7.2 million from EUR7.1 million in the first quarter of 2023.

Ebitda is negative EUR830,000 from negative EUR340,000 in the same period of 2023.

Ebit is negative EUR1.5 million from EUR750,000 in the same period of 2023.

Net financial position is EUR18.26 million from EUR14.75 million in the same period of 2023.

The summer season, the company points out in a note, is for the group "the most relevant in terms of turnover and margin." Therefore, given the economic forecasts that, in the tourism sector, predict in 2024 "an improved propensity for vacation spending by customers," the company is "aiming to achieve a positive economic result."

I Grandi Viaggi's stock gives up 0.5 percent to EUR0.79 per share.

By Chiara Bruschi, Alliance News reporter

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