(Alliance News) - The Board of Directors of doValue Spa has announced that it has approved a new consolidated interim financial report as of September 30, prepared in accordance with international accounting standards applicable to interim financial reporting in IAS 34.

In detail, net revenues of EUR304.6 million were reported for the first nine months of the year from EUR380.0 million in the same period of the previous year.

Ebitda including nonrecurring items amounted to EUR115.3 million from EUR151.9 million in the first nine months of 2022.

The period ended with a loss of EUR25.7 million from a profit of EUR39.2 million.

The document replaces in all parts the previously published one.

"The new financial statements take into account specific material events that occurred following the approval of the pre-existing financial statements and up to the date of approval of the new one. In particular, in view of the preliminary Business Plan 2024-2026 regarding the Iberia Region, which was approved by the board of directors, the group proceeded with the recording of an adjustment to the value of certain accounting items related to intangible assets mainly related to the group's activities in the Iberia Region," as the company explained in a note.

"These adjustments have no impact in cash terms, and therefore no changes in the company's net financial debt or Ebitda have been recorded compared to what was previously included in the pre-existing financial statements. The negative impact of these adjustments is partially offset by the positive impact of a recent settlement agreement with a customer in the ordinary course of business, which resulted in the release of a provision for risks and charges."

Thus, as of Sept. 30, the total non-cash negative impact of adjustments on the group's net income for the nine months amounted to EUR36.7 million, of which EUR31.4 million was attributable to shareholders of the parent company and EUR5.3 million attributable to minority interests.

doValue on Friday closed in the green by 1.3 percent at EUR3.12 per share.

By Claudia Cavaliere, Alliance News reporter

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