The Board of Directors of Piovan S.p.A. today approved the consolidated financial results for the first nine months of 2024. Total consolidated revenues and other income amounted to € 419.9 million, -1.7% compared to 30 September 2023. Consolidated Adjusted Net Profit for the first nine months of 2024 was € 32.7 million, 7.8% of total revenues and other income (+4.1% compared to the first nine months of 2023). Consolidated Adjusted EBITDA was € 55.7 million, stable compared to 30 September 2023 (13.3% of revenues and other income). Consolidated EBIT, excluding the effects of the IPEG Purchase Price Allocation ('PPA') and the NuVu PPA, amounted to € 47 million (11.2% of total revenues and other income). EBIT was impacted by acquisition, reorganisation and integration costs. The negative Net Financial Position was € 50.5 million (negative € 87.3 million at 30 September 2023), confirming the excellent cash generation. Basic earnings per share were € 0.66 at 30 September 2024.
The financial performance of the PiovanGroup at 30 September 2024 remained satisfactory, particularly in terms of profitability, thanks to the increase in market share in a shrinking market and the integration of the acquired companies. The Group has demonstrated its adaptability and competitiveness in an improving but still unstable macroeconomic environment. The Group's strength and distinguishing feature is its broad international presence, with subsidiaries and production sites, in a variety of geographical areas, including those undergoing major development, and in diversified sectors. In addition, a global sales and service network ensures excellent support for customers around the world.
