(Finance) – Tessellisthe Group’s holding company created from the merger between Linkem Retail and Tiscali, closed the first half of the year with revenues and other income amounting to 110.2 million, compared to 119 million in 1H2023, with a growth in the share of business services of 79.1% compared to the previous period.
The Negative consolidated net result for Euro 26.1 million, it is improving compared to Euro 26.7 million in 1H2023. EBITDA stood at 14.8 million compared to 18.6 million in 1H2023.
THE’Net Financial Debt at 30 June 2024 equal to Euro 84.3 million, an improvement of approximately Euro 1 million compared to 1H2023, consolidating relations with financial institutions.
Reduction of fixed costs by 6% compared to 1H2023.
“This half-yearly report is the result of a challenging journey whose results, already partially visible, will be reflected in our financial results as early as the end of 2024, comments Davide Rota, CEO of Tessellis. We therefore expect significant growth in revenues and B2B margin by the end of the year and a consequent reduction in operating losses.”
Furthermore, Tessellis has signed, subject to the favorable opinion of the Control, Risk and Related Party Transactions Committee, a shareholder financing contract with the controlling shareholder ShellNet.
The Shareholder Loan was disbursed in a single solution for a principal amount of euro 15 million, through the conversion into financing of certain credits (“Tiscali Credits”) deriving from commercial relationships between ShellNet and Tiscali Italia, a company controlled by Tessellis, from which they are the debts assumed by Tessellis arose through a specific release deed. Therefore, through this Transaction, the identified portion of Tessellis’ commercial debts towards ShellNet was converted into a financial debt.
There granting of member financingexplains a note, is part of the broader context of the financial support guaranteed by the partner ShellNet as part of the support for Tessellis’ business continuity and of the group headed by it, which has
also resulted in the extension of the expiry of further existing receivables claimed by ShellNet from Tiscali Italia, for approximately euro 30 million, postponed to October 2025 and for which no interest rate is expected to accrue.
The title was on Piazza Affari this morning Tesselis trading up by 1.08%, after a more sustained start, gradually aligning itself with the weakness shown by the entire Milanese list.
The scenario on a weekly basis of telecommunications company detects a loosening of the curve compared to the force expressed by the FTSE Italia All-Share. This retreat could make the stock subject to sales by operators.
The technical framework of Tesselis suggests an extension of the bearish line towards the floor at 0.3685 Euro with a ceiling represented by the 0.385 area. The forecasts are for a prolongation of the negative phase with the test of new lows identified at 0.361.