(Alliance News) - The board of Italian Exhibition Group Spa on Wednesday approved the consolidated interim report as of March 31, closing with a profit for the period of EUR23.3 million, up EUR9.4 million from the same period last year, when it stood at a profit of EUR13.9 million.

The group ended the first quarter of 2024 with revenues of EUR88.9 million, up EUR11.9 million from EUR77.0 million recorded in the same period last year.

Adjusted Ebitda amounted to EUR34.3 million, an improvement of EUR9.6 million compared to March 31, 2023, when the group recorded a gross operating margin of EUR24.7 million.

The Ebitda margin stands at 38.6 percent, improving by 6.5 percentage points compared to March 31, 2023, "thanks to an increase in volumes sold, with particular reference to the organized events line, against a more contained increase in operating costs," the company's note says.

Adjusted Ebit amounted to EUR30.0 million, up EUR9.6 million from the first quarter of 2023.

Net financial position is EUR60.0 million, an improvement of EUR11.9 million compared to Dec. 31, 2023.

Italian Exhibition Group on Wednesday advances 5.7 percent to EUR4.99 per share.

By Maurizio Carta, Alliance News reporter

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