(Alliance News) - Monnalisa Spa reported Friday that it closed 2023 with a loss of EUR6.7 million from a negative EUR3.4 million in the previous year.

Revenues amounted to EUR43.0 million from EUR47.5 million in the previous year.

Consolidated adjusted Ebitda as of December 31 amounted to EUR4 million from EUR5.8 million as of December 31, 2022. The decrease, the company explains, "is due to extraordinary costs related to nonrecurring events in the year and the result of some stores opened in the last 12 months and therefore not yet at break-even."

Compared to last year, "the economic result was also particularly negatively affected by the unfavorable performance of some currencies, in particular the Ruble and the Turkish lira. Adjusted Ebitda at constant exchange rates would have been EUR4.6 million from EUR6 million in 2022," it further reads.

Ebit is negative EUR4.7 million from EUR2.1 million recorded as of Dec. 31, 2022.

Net financial debt is EUR12.2 million. Total net financial debt, including lease liabilities resulting from the application of IFRS 16 accounting standard, stands at EUR28.5 million compared to EUR28.9 million as of December 31, 2022.

Monnalisa's stock closed Thursday at par at EUR1.69 per share.

By Chiara Bruschi, Alliance News reporter

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