Azerion Group N.V. (AZRN.AS) on Tuesday posted profit for the third quarter, compared with last year's loss. The result reflects gains from discontinued operations. On a continuing operations basis, the firm recorded an expanded loss, despite higher revenues.
Following the result, On the Amsterdam market, the shares were trading 3.08% higher at $1.34.
The firm reported quarterly net income attributable to the owners of the company of 8.5 million euros, compared with loss of 9.8 million in the prior year. This is mainly aided by income from discontinued operations, which jumped to 22.5 million euros from 2.4 million euros.
However, on a continuing operations basis, loss widened to 13.3 million euros from 11.8 million euros in the prior year.
Total EBITDA for the quarter increased 157 percent to 29.3 million euros from 11.4 million euros a year ago. On a continuing operation basis, EBITDA slipped by 3 percent to 6.8 million euros from 7.0 million euros.
Total adjusted EBITDA for the period declined 98 percent to 0.1 million euros from 4.9 million euros in the prior year. However, on an adjusted basis, EBITDA from continuing operations improved 13 percent to 14.4 million euros from 12.8 million euros. Azerion Group's total revenue for the third quarter declined by 2 percent to 122.5 million euros from 124.8 million euros. Revenue from discontinued operations slipped 81 percent to 2.7 million euros from 13.9 million euros
However, on a continuing operations basis, revenue climbed 8 percent to 119.8 million euros from 110.9 million euros.
Umut Akpinar, CEO of Azerion Group, added, "We are looking forward to Q4, historically our strongest quarter of the year and also towards 2026, where we expect the full effect of our 2025 projects to become visible in both our offering and our numbers."
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