(Alliance News) - GVS Spa reported Tuesday that it ended the quarter with net profit of EUR9.9 million up 7.7 percent from EUR2.5 million in the same period a year earlier.

Revenues amounted to EUR105.4 million from EUR104.9 million in the first quarter of 2023.

Ebitda increases to EUR24.3 million from EUR22.6 million as of March 31, 2023.

Ebit is EUR13.1 million from EUR12.1 million in the first three months of the previous year.

Adjusted net financial debt is EUR254.2 million. "The increase compared to December 31, 2023, totaling EUR2.1 million, is mainly due to cash used for net investments in property, plant and equipment and intangible assets for the period, net borrowing costs, tax payments, and underwriting/renewal of

lease contracts, net of cash generated from current operations.

GVS stock is up 2.4 percent to EUR5.58 per share.

By Chiara Bruschi, Alliance News reporter

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