(Alliance News) - RedFish LongTerm Capital Spa reported Wednesday that consolidated revenues for the first quarter amounted to EUR9.8 million, a significant increase compared to the same period last year, which reported consolidated revenues of EUR41,200.

This increase is mainly attributable to the consolidation of revenues for the January-March period of Movinter Spa, totaling EUR7.6 million, a company whose entire share capital was acquired in April 2023, through Rail Fish Srl, a corporate vehicle 96 percent owned by RFLTC, thus not present in the scope of consolidation for the first quarter of 2023.

Pro forma consolidated revenues as of March 31, 2024 amount to EUR11.1 million and take into account the consolidation of the revenues, effective January 1, 2024, of Movinter and the company Six Italia Spa, amounting to approximately EUR3.5 million, whose 75% of the share capital was the subject of a preliminary agreement for acquisition by Movinter signed in December and finalized in February 2024.

In order to represent like-for-like comparability with the pro-forma figures shown above, the company points out that consolidated like-for-like revenues as of March 31, 2023, which backdate the effects of the Movinter and Six Italia acquisition transactions as if they had taken place on January 1, 2023, are EUR9.2 million; a comparison with the 2024 consolidated pro-forma figure shows a 21 percent growth.

RedFish LongTerm Capital's stock closed Wednesday down 1.4 percent at EUR1.37 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.