Nextil posts 13.8 percent drop in Q1 turnover

European textile industry player Nextil, owner of brands such as Treiss, EFA, Ritex, Sici93, Playvest, Anna Llop and Dogi, said that its EBITDA reached 1 million euros in the first quarter, a decrease of 0.5 million euros compared to the same period last year, despite much of the commercial activity has stopped since February in some markets, such as China and Italy, due to the outbreak of Covid-19. The company added that turnover for the first three months of the year was 21.1 million euros, down 13.8 percent, which is expected to recover from the second half of the year. Net financial debt at March 31, stood at 49.5 million euros, 1.3 million euros more than at the end of 2019.