the first half of its fiscal year, which ended on 30 September, Unieuro recorded revenues of 1.23 billion euros, 5% less than in 2022. Profitability suffered more than proportionally: Ebitda was of 2.7 million (2 per thousand of sales) compared to 12 million in the first half of 2022. The net result is a very slight loss.
The company points out that the second quarter went better than the first: “in contrast to the trend recorded in previous quarters, the result of careful management of costs and margins and demonstrates our capacity for resilience in a difficult market” – commented CEO Giancarlo Nicosanti Monterastelli. The net cash of 78.5 million euros, up compared to 71 million at 31 August 2022, will be used to finance the acquisition of Covercare.
Unieuro has revised its outlook for 2023/24. It now expects revenues of 2.7 billion and an Ebit of 35 million euros.