(Alliance News) - Nusco Spa reported Monday that revenues for the first nine months were EUR35.5 million, of which EUR12.9 million was generated by subsidiary Pinum

Also as of Sept. 30, the group's order backlog was EUR17.2 million, of which EUR6.9 million related to Pinum.

"We are very proud of the results achieved since the beginning of 2023, which confirm the group's growth in terms of turnover, in line with the targets communicated to the market and in continuity with the group's strategy. The results of the order book also provide an important perspective of consolidation of the company," said Guerino Vassalluzzo, president and CEO of Nusco.

"The integration of Pinum has allowed us to accelerate this growth path and the internationalization process of Nusco, further strengthening our presence abroad: the current size of our group and our business allows us to benefit from a slice of the international market that appreciates Italian design and Nusco products, an expression of Italian excellence. Our intention is to continue the path started and pursued by Luigi Nusco following the listing and confirm the positive trend of these years."

"I would particularly like to point out that the growth that Nusco has sustained in this period has been achieved through organic growth in a solid market that will continue to persist because it has only partially benefited from the building bonuses issued by the government by focusing, conversely, on the energy efficiency of the domestic and non-domestic real estate stock."

Nusco's stock closed Monday down 2.0 percent at EUR0.96 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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