Home » Triboo: consolidates in 2023, with margins recovering in the last part of the year

Triboo: consolidates in 2023, with margins recovering in the last part of the year

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Triboo: consolidates in 2023, with margins recovering in the last part of the year

The group Triboo recorded a consolidation phase in 2023 but already starting from the third quarter of last year it achieved a recovery in profitability which should continue during this financial year.

In detail, the group active in the digital sector and listed on the Italian Stock Exchange closed 2023 with revenues net equal to 78.7 million euros (92.8 million in 2022) and a Ebitda adjusted equal to 9 million euros compared to 12.6 million euros last year. The net financial position goes from (-10.5) million euros to (-14.5) million but is an improvement compared to 30 June 2023 (16.2 million euros). The Pfn refers for 4.7 million euros to rentals and leasing.

Il Net income adjusted consolidated results from continuing operations showed a loss of 0.6 million euros compared to a profit of 2 million last year following higher provisions and write-downs.

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Margins recover in the fourth quarter. 2023

The company note highlights how already starting from the fourth quarter of 2023 Triboo (publisher of this newspaper) has shown an improvement in results compared to the first nine months, particularly in terms of margins. The adjusted Ebitda for the last quarter of 2023 is equal to 3.6 million, compared to the 5.4 million achieved in the first nine months.

“The results of the 2023 financial year were negatively influenced by the highly uncertain market context, which characterized above all the first nine months of the year and led to a drop in revenues compared to recent years, but the Group still managed to maintain good levels of profitability” – comment Giulio Corno, CEO of Triboo – “Furthermore, we believe that these circumstances have also represented an opportunity for the Group to rationalize processes and cost structure, focusing attention on the most profitable activities, and renew the commercial drive. We are therefore confident that we have laid solid foundations for a return to growth and a new increase in profitability, also supported by a market context in which it is already possible to observe a trend reversal”.

Positive net result expected for 2024

For 2024, the new 2024 – 2026 industrial plan (approved on 8 March) provides for an increase in revenues and profitability compared to 2023, with a expected positive net result, driven by growth in all activities which also benefit from rationalization actions. Suffice it to say that the discontinued publishing activities (“Il Settimanale”, “WSI Style” and “Radio Nerazzurra”) had a negative net result of 0.9 million euros and the write-downs had an impact of 2 million euros last year.

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These expectations do not consider any contribution from potential new activities or any strategic partnerships, which management is exploring.

At the same time, Triboo’s management took action to rebalance the financial position by obtaining new financing with the aim of aligning the average duration of the debt with the objectives and investments envisaged in the plan.

With reference to the two divisions of Triboo, in 2023 the Digital Division recorded revenues of 60.2 million euros (70.2 million in 2022) and an Ebitda of 6.9 million euros compared to 8 million in 2022. The Division Media recorded revenues of 19.7 million euros (23.7 million in 2022) and an Ebitda of 2.6 million euros compared to 3.9 million in the previous year.

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