MADRID, 8 Nov. (EUROPA PRESS) -

Squirrel Media recorded a net profit of 13.78 million euros during the first nine months of this year, which represents an increase of 63% compared to the same period of the previous year, as reported this Wednesday by the company, whose shares rebounded by 12.5% ​​after 10:00 a.m. after presenting their results.

Between January and September, the former Vértice 360 ​​increased its operating income by 47%, up to 86 million euros, while the gross operating result (Ebitda) stood at 17.27 million euros, 70% higher than that of a year before.

The company has also explained that the increase in financial debt (55%) is due to the advances of a small part of the credits of the multiple existing contracts for the transfer of titles with its main clients and the acquisition of Net TV, Veralia Distribución of Contents, Grupo BF Distribution and Grupo Ganga.

Likewise, the firm has indicated that the working capital is negative (-3.4 million euros) due to the transfer of collection rights and the aforementioned acquisitions, which forces it to reflect only the debt on the balance sheet and not customer accounts receivable.