(Alliance News) - Tinexta Spa reported Tuesday that it closed the first quarter with revenues of EUR98.4 million, up 14 percent from EUR86.1 million in the same period last year.

Ebitda fell to EUR8.6 million from EUR13.5 million while the adjusted figure shows an increase to EUR15.4 million from EUR15.0 million a year earlier.

Almost the same trend for operating income: down to an operating loss of EUR3.1 million from a positive Ebit of EUR4.3 million a year earlier but broadly positive -- to EUR8.1 million -- on an adjusted basis from EUR10.2 million a year ago.

The company reported a net loss of EUR2.0 million in the first quarter from a profit of EUR2.1 million a year earlier while the adjusted figure shows a positive EUR5.8 million from EUR6.9 million a year earlier.

The adjusted figures exclude nonrecurring costs, such as those for acquisitions of EUR5.5 million this year and those for LTI incentive plans of EUR1.2 million.

Net debt is EUR240.1 million from EUR138.1 million at the end of 2023. Adjusted free cash glow from continuing operations shows an increase to EUR27.2 million from EUR22.8 million in the previous year.

Tinexta's stock is up 3.7 percent to EUR19.27 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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