Carraro Group: important profit growth in the first half year, EBITDA from 6 to 11% reaches 34 mln €
Net profit exceeds 10 mln € in first six months
Improved Net Financial Position. Thanks also to the Capital Increase, debt falls to 148 mln € down from 183 mln € at the end of 2016
Markets more positive than expected at the start of the year. End-of-year outlook positive and in line with the first six months
Campodarsego (Padua), July 27, 2017 – The Board of Directors of Carraro SpA, a world-leading group in power transmission systems, chaired by Enrico Carraro, today approved the Group's results for the first half of 2017.
"In a not yet brilliant market, which is only seeing clear trend reversal in some areas compared to previous years, the Group ends the first half of the year with a marked increase in profits. – said Enrico Carraro, Group Chairman, comments – _Despite signs of uncertainty in some sectors, we don't foresee any abrupt changes in direction between now and the end of the year and today, we are confident that we will end the financial year in the same way as we have the first six months. Renewed financial stability along with these important profit results have led the Group, years later, into favourable conditions for planning growth in the near future, with the benefit of a broadened product portfolio and highly efficient factory management”.
Consolidated results up to 30 June 2017 The first six months recorded results higher than those forecast thanks to positive signs in all the major reference markets both compared to the same period of the previous year and the first three months of 2017. Bearing in mind the deconsolidation of Elettronica Santerno, turnover up to 30 June grew by 4.7%, exceeding 310 million Euros, compared to the proforma turnover of 296.6 million Euros up to 30.06.2016. In parallel to this, thanks to the activities aimed at optimising the industrial platform, streamlining the organisation, the effectiveness of partnerships with our main suppliers, as well as a suitable cost structure, the Group recorded excellent results, including those relating to its economic and financial profile.