(Alliance News) - The board of directors of Class Editori Spa on Wednesday approved additional consolidated periodic information as of March 31, 2024. Consolidated group net income worsens to a loss of EUR720,000 compared to a loss of EUR610,000 in the same period 2023.

Total revenues for the first quarter of 2024 amounted to nearly EUR20 million, in line with the previous year's figure, "thanks to the good performance of Class Editori's publishing and financial services activities, which offset the effects of the end of Gambero Rosso's advertising contract and rights to broadcast its TV channel on Sky, which cut various contracts to reduce fixed commitments. Gambero Rosso Channel is now managed directly by the subsidiary and also has positive prospects for new collateral initiatives," the company explained in the released note.

EBITDA at the consolidated level increased to EUR2.33 million from EUR2.23 million in the first quarter of the previous year.

Operating income at the consolidated level was positive EUR320,000 compared to EUR250,000 in the first quarter of the previous year.

The publishing house's net financial debt as of March 31, 2024 was approximately EUR45.4 million compared to EUR43.8 million as of December 31, 2023.

Class Editori closed Wednesday's session in the green by 2.1 percent at EUR0.098 per share.

By Maurizio Carta, Alliance News reporter

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