Carraro Group: The Shareholders’ Meeting approves the 2019 Financial Statements

DISCLAIMER

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

• 2019 consolidated turnover at 548.8 million Euros 
• Consolidated EBITDA equal to 42.7 million Euros (7.8% of turnover) 
• Consolidated EBIT equal to 22.5 million Euros (4.1% of turnover) 
• Consolidated net profit equal to 8.1 million Euros (1.5% of turnover) 
• Consolidated net financial position as at 31.12.2019 negative for 123.6 million Euros 

Campodarsego (Padua), 17 March 2020 – The Shareholders’ Meeting of Carraro SpA, global leader in transmission systems for off-highway vehicles and specialised tractors, today approved - under the chairmanship of Enrico Carraro - the Financial Statements 2019.

“The financial year that's just ended vindicated the choices we took in the ones before it to optimise our structure and keep profits high in all market conditions,” says Enrico Carraro, Chairman. “Even with a drop in volumes, the year 2019 saw a good result in terms of both margins and net profit.”

He adds, “As for the situation regarding the global spread of Covid-19, we've stopped some of our production for the moment, as have many of our partners. But we're working, often hand in hand with our customers and suppliers, to restart as soon as possible, obviously in the utmost safety. 2020 was shaping up to be a great year for our Group, with some markets showing strong growth and a range of new products coming in. Now things have changed. But faced with the big impact of Covid-19 on both the global economy and on our work, we know that our sectors, agriculture and infrastructure, are crucial to mankind. This is something very positive that, despite the big reduction in sales in the first period, bodes well for a restart as early as the second half of the year.”