(Alliance News) - Vimi Fasteners Spa reported Thursday that it posted revenues of EUR44.7 million in the first nine months of the year, up 13 percent from EUR39.5 million in the same period last year.

The value of the group's order backlog as of Sept. 30, net of revenue value, was EUR25.2 million, of which EUR16.0 million is for the remainder of the current fiscal year and the remaining EUR9.2 million is for the following fiscal year 2024. This amount compares with an order backlog of EUR23.1 million recognized as of September 30, 2022.

As of September 30, consolidated net debt showed EUR25.1 million, an improvement from EUR26.6 million as of June 30. The increase in the level of indebtedness compared to the previous year - it was EUR14.1 million as of December 31, 2022 - appears to be a consequence of the acquisition of Filostamp Srl, which was concluded in April.

The total amount of net debt includes EUR4.4 million resulting from the accounting of rental and lease agreements in accordance with IFRS 16, compared to EUR2.7 million as of December 31, 2022.

Vimi Fasteners' stock closed Thursday unchanged at EUR1.24 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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