(Finance) – Unieuro closed the first nine months of the 2023/24 financial year, which concluded at the end of November, with revenues decreasing to 1,926.5 million euros, compared to 2,048.6 million in the corresponding period of the previous year. The company made this known in a note in which it attributes the decline “to the macroeconomic context and to the contraction recorded by some product categories which had seen years of record growth”.
L’Adjusted EBIT is equal to 15.5 million euros compared to 21.2 million in the corresponding period 2022/23, due to the significant improvement achieved in the third quarter, which allows the performance of the first three months of the financial year to be partially offset.
Net cash stood at 104.0 million euros compared to 124.4 million at the beginning of the year, after the payment of dividends of 9.8 million and the outlay of 4.5 million relating to the signing of the contract for the acquisition of Covercare.
Outlook 2023/24: at the end of the Christmas season, expected revenues in the range of 2.65-2.70 billion euros; Adjusted Ebit guidance of around 35 million euros and net cash in the range of 20-40 million at the end of the year confirmed, following the closing
of the acquisition of Covercare.
Giancarlo Nicosanti Monterastelli, CEO of Unieurodeclares: “In a market still affected by the slowdown in demand and promotional pressure, we are satisfied with the significant improvement in the third quarter results, demonstrating the effectiveness of all the actions implemented. We are increasingly determined to achieve the objectives of our Strategic Plan: continue to offer our customers the best shopping experience on the market and accelerate growth in services and profitability, thanks also to the recent acquisition of Covercare”.