TaTaTu S.p.A.: THE BOARD OF DIRECTORS HAS EXAMINED AND APPROVED THE STATUTORY AND CONSOLIDATED PRELIMINARY RESULTS AS OF 31 DECEMBER 2023 PENDING THE NEW BUSINESS PLAN

 

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TATATU S.P.A.: THE BOARD OF DIRECTORS

HAS EXAMINED AND APPROVED THE STATUTORY AND CONSOLIDATED PRELIMINARY RESULTS AS OF 31 DECEMBER 2023 PENDING THE NEW BUSINESS PLAN

 

 

 

 

Rome, 27 May 2024 – Tatatu S.p.A., the company that owns TaTaTu, an entertainment platform whose business is based on the data sharing economy and the circular economy, (the "Company") listed through Direct Listing of shares on the Euronext Growth Paris (ticker code: ALTTU), announces that the Board of Directors today decided to postpone the approval of the December 31st 2023 financial statements pending the definition of Tatatu S.p.A. new business on a going concern basis. The plan, which will be prepared  with the input of the appointed advisor, will focus (i) on new opportunities to exploit the app, which has seen its distribution library grow very significantly and currently includes around 5,300 titles with very varied exploitation rights between duration and territoriesand (ii) raise new finance. The Board of Directors will meet to examine and approve the final financial statements as of December 31st 2023 when the new business plan will be ready.

 

In the meantime, the Board of Directors approved the preliminary financial statements as of December 31st 2023 prepared with accounting principles applied on consistent basis. The 2023 financial year closed with consolidated revenues of approximately Euro 83,500-85,500 thousand, down by approximately 34% on average compared to Euro 113,356 thousand as of December 31st, 2022. Statutory revenues amounted to approximately Euro 14,500-16,500 thousand, an increase of approximately 12% on average compared to Euro 13,886 thousand as of December 31st, 2022.

 

Consolidated adjusted EBITDA reached approximately Euro 4,250-4,750 thousand, approximately 5%-6% of revenues (Negative Euro 2,652 thousand in 2022, with a negative margin of 2%). Statutory adjusted EBITDA reached approximately Euro 2,350-2,750 million, approximately 16%-17% of revenues (Euro 1,360 thousand in 2022, with a margin of approximately 10%).

 

The consolidated net financial position (net of the effect of the application of IFRS 16 of approximately Euro 17,400 thousand) was approximately Euro 6,500 thousand (Euro 5,379 thousand at December 31, 2022) of net debt. The net statutory financial position amounted to approximately Euro 6,840 (Euro 5,798 thousand as of December 31st, 2022) of net debt.

 

This press release is available on the Company's websiteat the following address https://corporate.tatatu.com/en/corporate/Investors section/.

 

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About TaTaTu

TaTaTu is the first entertainment platform based on data sharing economy and circular economy. The company is the first social media platform to reward users with TTU Coin for viewing content and social media activities. Users can post photos and videos, and earn even more TTU Coin when someone likes, comments, views or shares a post or when users invite a friend. Available worldwide in BETA, TaTaTu offers its community auctions, offering users the opportunity to win fantastic products and experiences by bidding with TTU Coins. In addition, users can redeem TTU Coins in e-commerce in exchange for products.

 

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Investor relations contacts

Fernando Palladino |fernando@tatatu.com| + 39 3485820804