Pininfinarina cuts losses in first quarter; revenues rise

(Alliance News) - Pininfarina Spa reported that it closed the first quarter with revenues of EUR22.5 million from EUR17.4 million a year earlier.

Ebitda returns to positive, to EUR1.0 million from EUR900,000 in liabilities in the same period a year earlier, while operating loss improves sharply to EUR300,000 from EUR1.9 million a year earlier.

Net loss is also significantly reduced to EUR600,000 from the EUR2.4 million red as of March 31 last year.

Net financial position is positive EUR8.2 million from the negative EUR3.7 million as of March 31 last year while equity improves to EUR35.5 million from EUR33.2 million.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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