Almawave, revenues at 10.9 million, profits down to 100 thousand euros

Almawave, part of the Almaviva Group active in the Data & Artificial Intelligence sector, closed the first quarter with total revenues of 10.9 million euros, down 26.5% compared to the previous year, due to the different composition of the scope of orders and the sectors served. Profit fell to 100,000 euros from 1.3 million euros in the same period of 2024. Ebitda amounted to 1.3 million euros (2.9 million euros in the previous year) with an Ebitda Margin of 13.2%, down compared to the comparison (21.1% in the first quarter of 2024).

Strategic investments - we read in a note - are growing by 78% and in the first three months of the year the release of the Velvet AI took place. Net financial position positive "cash positive" for 2.7 million euros (3.7 million euros at 31 December 2024).

"The first quarter of 2025 - commented Almawave CEO Valeria Sandei - marked a very positive technological and operational start for the Group with the launch of the first two generative AI models of the Velvet family, already capable of producing significant effects on the market and demonstrating distinctive capabilities on an international scale. We are accelerating the integration of our AI technology into the proprietary Multiagent platform AIWave, with fine tuning increasingly targeted to specific use cases of dialogue understanding and knowledge analysis, in the sectors in which we have the greatest experience: Public Administration, Healthcare, Transport, Tourism, water management".