Draft Financial Statements for 2016 Approved by the Board of Directors
Group restructuring completed. The Group is fully focused on transmission systems for off-highway vehicles and tractors.
The contents of this section are updated as at August 6th, 2021. Please note that, as a result of the delisting of the shares of Carraro S.p.A. from the Electronic Stock Market organized and managed by Borsa Italiana S.p.A., pursuant to the resolution n. n. 8788 dated July 29th, 2021 and effective from August 6th, 2021 this section has not been subject to further updates. Therefore, the information, the data, the documents and, generally, the contents of this website refer to and are updated as at the date of August 6th, 2021
With the sale of the controlling interest in Elettronica Santerno the Group is fully focused on transmission systems for off-highway vehicles and tractors.
Net loss of 9.1 million Euros, but net of extraordinary operations, the group would have a profit of 5.2 million Euros.
Significant improvement in the consolidated net financial position of operations which from 227.8 million Euros decreased to 183.1 million Euros.
- 2016 consolidated turnover of 593.7 million Euros, down by 11.9% compared to 2015 (674 million Euros). Net of disposals, the decrease in turnover was only 8.3%.
- Consolidated EBITDA amounted to 39.2 million Euros (6.6% of turnover), down 16.5% compared to 46.9 million Euros (7% of turnover) in 2015; net of non-recurring costs and with constant perimeter, EBITDA amounted to 48.2 million Euros (8.6% of turnover), down 4.9% (50.6 mln € in 2015).
- Consolidated EBIT amounted to 11.8 million Euros (2% of turnover), up compared to 0.3 million Euros (0% of turnover) in 2015. Net of non-recurring costs and with constant perimeter, EBIT grew by 4.3% to 27.7 million Euros (5% of turnover) .
- Net Loss of 9.1 million Euros (-1.5% of turnover) compared to a loss of 8.9 million Euros (-1.3% of turnover) in 2015. Net of non-recurring operations and with constant perimeter, net profit was 5.2 million Euros (0.9% of turnover), an increase compared to the loss of 3.5 million Euros (-0.6% of turnover) in 2015.
- Consolidated net financial position of operations showed liabilities of 183.1 million Euros at 31.12.2016, compared to 194.6 million Euros at 30 June 2016 and with a significant improvement compared to 227.8 million Euros at 31.12.2015.
“The close of 2016 for us marks major turning point. A new organisational plan, the sale of all non-strategic and loss-making businesses and the capital increase ensure once again a solid economic base for the Group for its relaunch to ensure development in the coming years. – said Enrico Carraro, Group Chairman – Today, in the eyes of the market and our customers, we are now stronger than before. We start once again with a clear vision of the new scenarios, determined to start to grow again where we had stopped, adding new technologies and new applications to the traditional products. It was a restructuring which our Group had never seen before. We went through difficult decisions, but with a clear vision of the future of the Group. A journey shared and supported by our major customers, suppliers and the entire banking system that never lost its trust in Carraro”.