(Alliance News) - Dexelance Spa, formerly Italian Design Brands Spa, reported Monday that it closed the first quarter of the year with a profit of EUR300,000 compared to EUR1.4 million in the same period of 2023.

Adjusted net income increases to EUR3.3 million from EUR5.4 million as of March 31, 2023.

Revenues increase 10% year-on-year to EUR72.7 million while Ebitda is EUR8.9 million compared to EUR8.7 million in 2023.

Adjusted Ebitda is EUR9.5 million, down 13 percent from the full adjusted 2023 figure.

The board of directors also announced the start of the share buyback program for a maximum of EUR1.0 million.

Net financial position amounts to EUR128.8 million.

Dexelance trades in the red by 0.8 percent at EUR10.64 per share.

By Chiara Bruschi, Alliance News reporter

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