TaTaTu S.p.A.: Board of Directors Reviews Preliminary 2023 Results

Rome, 27 May 2024 – TaTaTu S.p.A., owner of the entertainment platform TaTaTu, announced that its Board of Directors has examined and approved the preliminary statutory and consolidated financial results for the year ending 31 December 2023. The final approval of these results awaits the completion of a new business plan. This plan is being developed with input from an appointed advisor and will explore new opportunities for the app and potential financing options.

For the 2023 fiscal year, consolidated revenues were between €83.5 million and €85.5 million, representing a 34% decrease from the €113.4 million reported in 2022. Statutory revenues, however, increased by approximately 12%, reaching between €14.5 million and €16.5 million compared to €13.9 million in 2022.

Consolidated adjusted EBITDA ranged from €4.25 million to €4.75 million, showing improvement from the negative €2.7 million in 2022. Statutory adjusted EBITDA ranged between €2.35 million and €2.75 million, up from €1.36 million in 2022.

The consolidated net financial position showed a net debt of approximately €6.5 million, compared to €5.4 million in 2022. Statutory net financial debt was approximately €6.84 million, up from €5.8 million the previous year.