(Alliance News) - Yolo Group Spa announced on Friday that its board of directors has resolved to propose to the shareholders' meeting a capital increase for a maximum of about EUR8 million, including any share premium, to be carried out in one or more tranches, in one or more installments, in divisible form and for cash, by issuing new ordinary shares, with no indication of par value, to be offered under option to all those entitled.

The company explained that the resources generated by the capital increase will be used to implement the business plan to 2026, which includes three strategic directions such as developing the international presence, both through new partnerships and through inorganic growth; consolidating the phygital distribution model; and increasing the supply portfolio, both for the retail and SME markets.

The business plan includes a revenue target of EUR17 to EUR20 million and positive Ebitda for 2024.

The end-of-plan target to 2026 is to achieve revenues above EUR60 million and a target Ebitda margin in the range of 20 percent.

Also, on the international development front, Yolo has submitted a non-binding offer to acquire 51 percent of a Spanish company with solid earnings capacity and characteristics that make it synergistic with its business model.

The goal is to complete the transaction within the first half of the year.

On Friday, Yolo Group closed 9.60 percent in the red at EUR2.26 per share.

By Claudia Cavaliere, Alliance News reporter

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