(Alliance News) - The board of directors of Pininfarina Spa on Monday approved the group's interim report for the first nine months, which closed with a net loss of EUR2.9 million, which compares with a net loss of EUR2.0 million for the corresponding period in 2022.

Total consolidated revenues at the end of the period amounted to EUR58.2 million, up from EUR53.2 million a year earlier. "The increase involved the style segment by about 13.6 percent while the engineering segment decreased compared to the same period of the previous year by about 6.3 percent," the company specified in the released note.

EBITDA is positive EUR1.5 million from the positive value of EUR2.3 million in the corresponding period of 2022, as a result of the positive results of the Parent Company and Pininfarina of America contrasted by the negative margins achieved by the companies in China and Germany.

As a result, operating income is negative EUR1.4 million from negative EUR700,000 as of Sept. 30, 2022.

Pininfarina Spa closed Monday's session in the red by 1.0 percent to EUR0.79 per share.

By Maurizio Carta, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.