Q1 EBITDA 45.8 mln eur vs 53.6 mln (Il Sole 24 Ore Radiocor) - Milan , 08 May - Comer Industries, an Italian producer of advanced engineering systems and mechatronic solutions, said it posted revenue of 272.4 million euros in the first quarter of 2024, down by 21.3% compared to the year earlier, as demand in the agriculture sector declined after peaking in the year earlier.

EBITDA fell to 45.8 million euros from 53.6 million in the first quarter of 2023, but the EBITDA margin widened by 1.30 percentage points to 16.8%.

Net financial debt fell to 77.2 million euros as of March 31, 2024, down from 94.8 million at the end of 2023. For 2024, management confirmed guidance provided in March of sales in line with what has been indicated by major market participants, a decline in profit margins and a reduction in net debt thanks to cash generation.

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(RADIOCOR) 08-05-24 19:11:45 (0713) 5 NNNN