(Finance) – TrenDevicea company listed on Euronext Growth Milan and active in the sector of reconditioning high-end hi-tech products, closed on third quarter of 2024 with revenues equal to 3,903 thousand euros, down 16% compared to the third quarter of 2023. Preliminary revenues for the first 9 months amounted to 12,292 thousand euros, recording a decrease of 4%: this reduction is mainly attributable to the change of supplier of the buy now pay later service which involved a ramp-up period and a series of initial technical adjustments, as well as renewed aggressiveness on the part of competitors on the pricing front on the Italian market.
THE’EBITDA recorded a decline (-43%), reaching 170 thousand euros. The decline, as already occurred in the first 6 months of 2024, is due to three distinct factors: (i) lower-than-expected margins on refurbished products due to an increase in competitive pressure on the web channel; (ii) lower extraordinary quarterly pro-rata income relating to operating contributions due to the conclusion of the Campania Region’s “ReFive” project; (iii) the aforementioned change of supplier of the buy now pay later service. The EBITDA for the first 9 months stood at 409 thousand euros, compared to 947 thousand euros in the first 9 months of 2023.
“There is no doubt that the economic performance of the third quarter was on track below expectations both from the point of view of revenues and margins – Alessandro Palmisano, CEO and co-founder of TrenDevice – As already disclosed, the management, in addition to focusing on relaunching organic growth, is carefully monitoring any market opportunities for external expansion, including in foreign geographies, in order to facilitate the achievement of break- even point”.