Solutions 30 drops on sales decline in Italy

Solutions 30 SE

14/05/2024 08:35

** Shares in Solutions 30  S30.PA  fall 5.6% after the
Luxembourg-based new technologies company's Q1 revenue was hit
by a sales decline in Italy
    ** Its Q1 consolidated revenue was 265 million euros ($286
million), up 3.8% compared to the same period in 2023
    ** In Italy, revenue fell 32% to 13 million euros in the
quarter
    ** The company says the decline was a direct consequence of
the voluntary slow down in its fiber deployment operations
    ** However, Midcap analysts say they expect a "more
favorable development" at the end of the year, as the group
confirms 2024 targets for continued revenue growth and
improvement in adj. EBITDA margin
    ** The stock is on track for its worst day since early April
if losses hold, and is at the bottom of France's SBF 120 index
 .SBF120  
($1 = 0.9272 euros)

 (Reporting by Lina Golovnya)
 ((Lina.Golovnya@thomsonreuters.com;))