(Alliance News) - Digital Bros Spa reported Tuesday that it posted a consolidated net loss of EUR6.7 million for the first nine months of the year, compared with net income of EUR15.7 million as of March 31, 2023.

Consolidated net revenues were EUR75.8 million, down 15 percent, compared to EUR89.2 million recorded as of March 31, 2023.

EBITDA decreased to EUR20.2 million from EUR30.5 million as of March 31, 2023, including nonrecurring charges of EUR1.4 million.

Ebit is negative EUR3.1 million from the positive figure of EUR17.9 million in the first nine months of 2023.

Net debt is EUR45.6 million from EUR41.3 million, in line with expectations and an improvement from last quarter.

The company confirmed the outlook for revenue growth, and operating margin is expected to be largely positive, although at a lower level than last year.

Digital Bros closed Tuesday in the red by 0.9 percent to EUR10.90 per share.

By Chiara Bruschi, Alliance News reporter

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