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REPLY: The Board of Directors Approves the Quarterly Financial Report as of 30 September 2023.


Regulatory News:

The 2022 figures for EBITDA, EBIT, and Pre-tax Profit include €11 million from the release of part of the Covid provision that occurred in the first 9 months of FY2022.

Today, the Board of Directors of Reply [EXM, STAR: REY] approved the results as at 30 September 2023.

The Group's consolidated turnover in the first nine months of the year reached €1,548.0 million, an increase of 14.2% compared to €1,355.7 million recorded on 30 September 2022.

The indicators for the period are positive. Consolidated EBITDA was €235.8 million, equal to 15.2% of the consolidated revenues. As of September 2022, EBITDA was €218.6 million (€207.6 million should be considered for comparison purposes)*.

EBIT, from January to September, reached €187.7 million, equal to 12.1% of the consolidated revenues. The corresponding 2022 figure was €183.6 million (€172.6 million for comparison purposes)*.

Pre-tax profit, from January to September 2023, was €170.3, equal to 11.0% of the revenues. As of September 2022, profit stood at €169.1 million (€158.1 million for comparison purposes)*.

For the third quarter of the year, the Group’s performance is positive, with consolidated turnover for the period of €509.1 million compared to €465.9 million of the third quarter 2022.

EBITDA, from July to September 2023, was equal to €81.8 million, with an EBIT of €64.0 million and pre-tax profit of €56.8 million.

As at 30 September 2023, the Group’s net financial position was positive at €189.7 million. The net financial position as at 30 June 2023 was positive for €101.6 million.

“In the first nine months of 2023, Reply achieved very good results, both in terms of revenue and margins,” said Reply Chairman Mario Rizzante after the Board of Directors. “More specifically, the results of the third quarter allow us to look forward to the months ahead with confidence.”

“The strength of Reply lies in the ability to interpret innovation making it functional to the transformation needs of businesses” continues Mario Rizzante “2023 has been marked by exponential growth in demand for new applications related to the use of artificial intelligence, an area in which Reply has been investing since 2017 and where it is now recognized as one ot the market leaders."

“In a short time,” concludes Mario Rizzante, “we will be living in a blend of automation, artificial intelligence, digital interfaces and connected objects, but it will take a huge amount of work to make that possible. It is in this specific area where we intend to focus our future investments to position ourselves as a niche player with very high technological and consulting expertise."

(*): For the purpose of data comparison, €11 million, attributable to the release in the first 9 months of 2022 of a portion of the extraordinary Covid fund previously set aside, has been excluded from the 2022 values (EBITDA, EBIT and Pre-tax profit). The total amount of the provision released in 2022 was €46.794 million.

The manager responsible for preparing the company's financial reports, Dr Giuseppe Veneziano, states in accordance with Paragraph 2 of Article 154-bis of the Consolidated Finance Act, that the accounting information contained in this press release corresponds to the company's records, ledgers and accounting entries.

Reply [EXM, STAR: REY, ISIN: IT0005282865] specialises in the design and implementation of solutions based on new communication channels and digital media. As a network of highly specialised companies, Reply defines and develops business models enabled by the new models of AI, big data, cloud computing, digital media and the internet of things. Reply delivers consulting, system integration and digital services to organisations across the telecom and media; industry and services; banking and insurance; and public sectors.

This press release is a translation, the Italian version will prevail.

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