Fervi, stable revenues and declining debt

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As of the end of the third quarter of 2023, the Fervi Group, listed on the Euronext Growth Milan market, reports preliminary consolidated net revenues of approximately €41.7 million, in line with the figure as of September 30, 2022.

The consolidated net financial position, negative (net debt) by about 8.8 million euros, improved by 0.6 million euros compared to the figure as of June 30, 2023 (negative €9.4 million) and by €2.4 million compared to the figure as of December 31, 2023 (negative €11.2 million).

Data as of September 30, 2023 are pre-consolidated management data and have not been audited.

In commenting on the performance of the Group, Guido Greco, Group CEO, said, “The results as of September 30 confirm. the solidity of the Group at a time when the market is shrinking due to geopolitical events as well as due to the rebalancing of stocks after the strong growth of 2021-2022. Sales remained at the level of the corresponding period last year with the Group continuing to generate cash in the third quarter as well.”