(Finance) – Dear Mosconia group active in the creation, production, printing and customization of fabrics for the main international players
of the world of luxury, recorded revenues of 11.6 million in the first quarter of 2024, compared to 13 million in the same period of financial year 2023.
The decline in revenues of approximately 11%, explains the company in a note, is mainly attributable to the performance of the clothing fabrics business line which, even in the first months of the financial year, was impacted by the continuation of the market slowdown of luxury, which after years of strong growth is going through a phase of stabilization with many brands having adopted a policy
prudent in order management, continuously adapting it to demand conditions and stock levels.
There Net Financial Position as of March 31, 2024 it is “cash positive” for 19.8 million, markedly improving compared to 17.1 million as of 31 December 2023 thanks to solid cash generation, which also following the distribution of the Dividend (2.3 million in total), will leave the collection generated in the IPO phase fully available and destined for future extraordinary operations .