Yolo, results improving in 2023. Will switch to ordinary EGM

Yolo results improving in 2023 Will switch to ordinary EGM

(Finance) – Yolo Groupan Italian insurtech operator listed on Euronext Growth Milan – Professional segment, closed on 2023 with revenues for 9.5 million euros (+107% compared to 2022) and an improvement inEBITDA margin in terms of impact on revenues at -13% (-17% in 2022). L’EBITDA it stands in absolute value at -1.2 million euros. The Net Financial Position is positive for 0.1 million euros, with liquid assets of 4.6 million euros.

The data includes in addition to the company group leader and at check Yolo Srl and Bartolozzi Assicurazioni Broker Srl, AllianceInsay Broker SpA, a company of which YOLO acquired the majority in February 2023.

The 2023 results create the conditions for confirm the break even objective for 2024 and to accelerate the implementation of the 2024-2026 Business Plan, we read in a note.

After the two acquisitions in Italy in 2022 and 2023, Yolo intends to continue its growth path both organically and external lines evaluating companies potentially suitable for your business model.

“The evolution of the business in 2023 proves the validity of our strategic choices – commented Gianluca De Cobelli, co-founder and CEO of Yolo Group – The results achieved and the path that Yolo is taking reflect what we declared at the time of the listing. The solid positioning in insurtech and the growth prospects of the reference market place us in the right conditions to accelerate the implementation of the Industrial Plan”.

The company has decided to implement the passage of the quotation of the stock from the professional segment of Euronext Growth Milan to the ordinary segment according to methods and timing that will be agreed with Borsa Italiana.