(Alliance News) - Casta Diva Group Spa reported Monday that the value of production for the first quarter rose 7 percent over the same figure for the previous year, to EUR22.6 million from EUR21.2 million.

The value of the backlog -- orders to be fulfilled within the year -- as of March 31 stood at EUR34.2 million.

The sum of production value and backlog as of March 31 amounted to EUR56.9 million and already represents, as of now, 47 percent of the production value of EUR120.7 million indicated for fiscal year 2024 in the 2023-2026 business plan.

President and CEO, Andrea De Micheli, said, "It is extremely encouraging to note that just three months into fiscal year 2024, CDG has already achieved about half of its full-year budget. Casta Diva has a portfolio of more than 100 clients, including some of the largest Italian and international companies."

"Our strategy aims at strengthening in the events sector through a careful acquisition policy and the development of specialized strategic areas, such as G2 Eventi for corporate corporate events, Genius Progetti for events for the luxury sector, Casta Diva Pictures and Akita Film for the production of commercials and TV programs. The upcoming Closing of the acquisition of E-Motion, the final terms of which will be announced at the signing, will enrich our offerings in the Creative Content Production division. E-Motion is active in the production of industrial, emotional and event videos," De Micheli concluded.

Casta Diva Group's stock closed Monday down 4.0 percent at EUR1.54 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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