(Alliance News) - Tessellis Spa--the new Tiscali--reported that it closed 2022 with a net loss of EUR63 million, which compares with the previous year's negative figure of EUR35 million.

Revenues rose to EUR261 million from EUR100 million. Considering the adjusted 2022 pro-forma figures, which benefit from the sale of 300,000 IP addresses that took place in 2022 for an amount before directly attributable costs of EUR17 million, total 2022 revenues would have been EUR260.9 million.

Ebitda increased to EUR49.4 million from EUR10.7 million while operating loss widened to EUR51.7 million from EUR30.4 million.

Consolidated shareholders' equity was positive EUR68 million as of December 31, 2022 and represented

19.7 percent of total liabilities including shareholders' equity.

As of December 31, 2022, the Tessellis group has EUR8.3 million in cash and cash equivalents. The amending agreements of the senior loan, signed on July 22, defined a lengthening of the debt repayment schedule and a rescheduling of payments.

"The board of directors approved the 2023-26 business plan, which is in line with the previous plan of July 2022, updated based on actual and budget data. The group, in execution of the 2023-26 business plan, has an ambitious transformation process underway to become a digital enabler for enterprises and public administrations. In the meantime, the group continues to work on improving the marginality of core services -- ultrabroadband internet connections and mobile phone services -- as well as on the relaunch of the Tiscali brand in the market," the company explained.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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