Almawave revenues up in first quarter 2024 | Almawave
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6 May 2024

Almawave revenues up in first quarter 2024

The Board of Directors of Almawave S.p.A., an Italian enterprise listed on the Euronext Growth Milan and part of the Almaviva Group, a Data & Artificial Intelligence player, today approved the Q1 2024 consolidated results1 .

Almawave Chief Executive Officer Valeria Sandei stated: “The Almawave Group’sresultsfor Q1 2024 highlight a strong start to the year, to which the acquired companies also contributed, confirming the decision in previous years to focus on vertical AI solutions, and their successful integration into the business model. I expect this trend to become increasingly important within the current market which features a range of opportunities, but also an increasing focus on, and the progressive clarification of, the situation concerning rules and implementation models – and also in terms of the significant strategic positioning and operating and market investments rolled out by the company in terms of the continuous innovation of Artificial Intelligence”.

Group revenuesfor the first quarter were up 6.1% on the previous year to Euro 13.6 million. EBITDA was Euro 2.9 million, with an EBITDA Margin of 21.1% decreasing on the comparative year (22.3% in Q1 2023), affected by continued and increasing investments in development and marketing, in line with the path set out over recent months.

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