(Alliance News) - Take Off Spa on Monday reported its consolidated operating results as of Dec. 31, in which it reported core revenues of EUR29.9 million, in line with EUR29.8 million in the same period of 2022.

Contributing to this result was the parent company Take Off whose revenues amounted to EUR24.6 million from EUR23.7 million in 2022, offsetting a decline in the subsidiary Over, whose revenues amounted to EUR5.3 million from EUR6.1 million.

The company reported that the group's average selling price increased to EUR19.62 from EUR18.42 in 2022.

As for the fourth quarter, core revenues stood at EUR7.8 million, down 24 percent from EUR10.3 million in Q4 2022. The group's average selling price is EUR23.50 from EUR26.33 in the same period in 2022.

"The resilience of revenues, the trend of the group's average selling price, and cost optimization actions have made it possible to preserve the Ebitda margin, which will be around 15 percent, considerably exceeding initial expectations, which indicated an Ebitda margin of less than 9 percent," the company explained in a note.

Aldo Piccarreta, chairman and chief executive officer of Take Off: "The results recorded in 2023 highlight the resilience of the group's business model, which is able to act in a very changeable and complex global market environment, which is also strongly affected by inflation. This positive result reflects our ongoing commitment to operational efficiency and financial management, and we are confident that it will contribute to the continued success of our organization in the near future."

Take Off trades in the green by 4.7 percent at EUR1.00 per share.

By Claudia Cavaliere, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.