(Alliance News) - MARR Spa reported Tuesday that it closed the first quarter with revenues of EUR418.1 million compared with that of EUR426.6 million in the same period last year.

MARR Group sales in the first three months of the fiscal year, which are historically low seasonality, amounted to EUR412.5 million and compared with EUR420.0 million for the same period in 2023.

Ebitda shows an improvement to EUR16.6 million from EUR14.8 million, and operating income rises to EUR7.5 million from EUR6.2 million.

Net income is also good, rising to EUR1.7 million from EUR1.5 million in the first three months of 2023.

Net debt as of March 31, 2024 is EUR260.7 million from EUR270.6 million at the end of the first quarter of 2023 while, net of the application of IFRS 16 accounting standard, it is EUR181.5 million from EUR192.3 million as of March 31, 2023.

MARR's stock is down 0.2 percent at EUR12.16 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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