(Alliance News) - FILA Spa on Tuesday reported that it closed the first quarter with revenues of EUR131.9 million from EUR148.6 million as of March 31, 2023.

Normalized IFRS 16 Ebitda amounted to EUR18.5 million from EUR19.0 million in last year's first quarter.

Normalized net income was EUR6.5 million from EUR3.0 million in 2023.

Net debt was EUR363.0 million, which compares to EUR490.4 million in the first quarter of 2023 and EUR303.4 million as of December 31, 2023.

In terms of outlook for 2024, revenues are expected to be stable at 2023 levels following the temporary and nonrecurring impact to logistics in North America, confirmed Ebitda growth due to improved margins and Free Cash Flow to Equity generation between EUR40 million and EUR50 million.

FILA trades in the green by 0.5 percent at EUR8.86 per share.

By Claudia Cavaliere, Alliance News reporter

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