(Alliance News) - Neodecortech Spa reported Wednesday that it ended the first nine months with net income down to EUR3.2 million from EUR9.9 million in the same period a year earlier.

Revenues declined to EUR125.0 million from EUR151.0 million a year earlier, due to a significant general decline in market demand and lower unit prices.

Ebitda dropped to EUR11.3 million from EUR15.6 million and margins to 9.1 percent from 10.3 percent while operating income dropped to EUR4.4 million from EUR8.4 million.

Net financial debt as of Sept. 30 was EUR35.9 million from EUR30.6 million as of Sept. 30, 2022, after incurring investments of EUR4.6 million and not yet having monetized credits related to the "maximization mechanism" from which Bio Energia Guarcino Srl benefited for EUR14.6 million.

Neodecortech's stock closed Wednesday at par at EUR2.80 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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