(Alliance News) - Vimi Fasteners Spa reported Friday that revenues for the first quarter increased to EUR14.4 million from EUR12.7 million in the same period last year.

The revenues show the group's significant presence in the Industrial sector, which as of March 31 was around 56 percent of total revenues for the period, in line with the first quarter of 2022. Also confirmed is a group order backlog value as of March 31, 2023, net of the aforementioned revenue value, of EUR32.8 million. This value compares with an order backlog of EUR30.2 million recognized in the first quarter of 2022.

As of March 31, 2023, consolidated net debt was substantially in line with the values at the end of 2022, amounting to EUR14.6 million, of which EUR2.6 million related to debt recognized in accordance with IFRS 16. This compares with EUR14.1 million recorded as of December 31, 2022, including EUR2.7 million recognized in accordance with IFRS 16, and is significantly lower than EUR16.4 million as of March 31, 2022, including EUR3.16 million recognized in accordance with IFRS 16.

Vimi Fasteners' stock closed Friday unchanged at EUR1.38 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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