(Finance) – Giglio.coma company listed on Euronext Growth Milan and active in the online sales sector for multi-brand luxury fashion, achieved in 2023 Revenues from sales and services equal to 56.3 million euros, up 10% compared to 2022.Adjusted EBITDA Margin closes at -0.4%, with a profitability recovery of 1.6 points compared to 2022. Net income is equal to -1.7 million euros compared to -2.3 million euros in 2022.
“2023 was characterized by a sudden and unexpected normalization of luxury demandespecially for the online channel, which has put an entire industry to the test, confirming, on the other hand, the resilience of the business model, with its unique characteristics, of Giglio.com – commented theCEO Giuseppe Giglio – Double-digit growth rates as well as further improved profitability now close to break-even, thanks to a second half of 2023 in which this target has already been achieved, confirm and strengthen our medium-long term ambitions.”
There Adjusted Net Financial Position (NFP). at 31 December 2023 it was equal to a total of 7.1 million euros, compared to 11.9 million euros at 31 December 2022. The change in the NFP was negatively influenced, in terms of extraordinary expenditure, by the investments made during 2023 which were necessary for the opening of the new shooting & logistics hub and the purchase of own shares.
In light of the uncertain macroeconomic scenario, the company will continue to position itself as objective of a return to profitability through a prudent approach to costs. On the other hand, the company will aim to develop new highly profitable business lines.