(Tiper Stock Exchange) – Convergencesa company listed on Euronext Growth Milan and active in the telecommunications and energy sectors, closed the first quarter of 2023 with revenues equal to approximately 5 million euro, down by 18% compared to the 6.1 million of the same period of the previous year. There BU TLC achieved revenues of 2.4 million (+2.3%), while la BU Energy recorded a decrease of 29.9% to 2.6 million due to the reduction in the price of the energy raw material, which in the reference period fell by more than 36% compared to the same period of the previous year.
L’CEO Rosario Pingaro commented that, as regards the Energy BU, “after a 2022 characterized by a highly adverse and anomalous market context, 2023 promises to improve“. “Energy costs are gradually stabilizing, although we believe it will still take some time before they reach a level close to that before the energy crisis – he added – and, as a society, we have implemented certain necessary measures to compensate for future fluctuations and allow for a recovery of margins compared to the end of the 2022 financial year”.
The management estimates for the margins see a figure for the TLC BU within a range of between 26.5% and 27.5%, while for the BU Energytaking into account the current trend of the reference market and the change in the new commercial tariffs applied starting from March 2023, sees a negative marginality which falls within the range between -5.7% and -3.7%.
The percentage of users present on the owned FTTH and Wi-Fi network is growing, equal to 51.7% compared to 49.3% in 1Q2022. There proprietary fiber optic networkmoreover, it expanded further during the first three months of 2023, reaching a total extension of over 8,100 km (vs over 5,900 km as at 31 March 2022).
(Photo: © Veerasak Piyawatanakul)