Piovan, adjusted net profit rises to 22.9 million in the first half

OPA Piovan Kepler Cheuvreux offer price a bit timid

(Telestock) – Rain archives the first half of 2024 with a total of revenues and other consolidated income equal to 287.5 million, down 0.9% compared to 30 June 2023 (-3.7% with the same consolidation scope.

Consolidated Adjusted EBITDA amounted to €38.8 million (13.5% of total revenues and other income), up 3% compared to 30 June 2023 (13.4% of total revenues and other income with the same consolidation perimeter).

The Operating income (EBIT), excluding the effects of the Purchase Price Allocation (“PPA”) of IPEG and the provisional PPA of NuVu, is equal to €33.3 million (11.6% of total revenues and other income), up compared to €32.5 million at 30 June 2023 (+2.4%).

The Adjusted Net Result consolidated stands at €22.9 million (with an incidence on total revenues and other income of 8.0%), an increase of €2.2 million (+10.6%) compared to 30 June 2023.

There Net Financial Position negative consolidated stands at € 56.9 million. Excluding the effects of the application of IFRS 16, the negative consolidated net financial position at 30 June 2024 would stand at € 38.5 million.

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