(Alliance News) - Giglio Group Spa reported that it closed 2023 with a net loss of EUR3.9 million, which compares with a net profit of EUR900,000 in the previous year.

As reported by the company, the merger of E-commerce Outsourcing into Giglio Group weighed heavily. The situation of more than one-third decrease in capital due to losses related to fiscal years 2020 and 2021 remains.

The company's revenues increased to EUR21.3 million from EUR19.7 million in 2022, in this case helped by the integration of E-commerce Outsourcing.

Ebitda shows a negative EUR2.1 million from positive EUR200,000 a year earlier while the company reported an operating loss of EUR3.1 million which compares with positive Ebit of EUR900,000 a year earlier.

Net financial position is negative EUR10.5 million from the negative EUR13.5 million figure, again impacted by the merger.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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