First quarter 2019 results were analysed by the Board of Directors

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

• Consolidated turnover of 150.3 million euros, a 4.6% slight decrease compared to 157.6 million euros recorded in the first quarter of 2018.
• Consolidated EBITDA for the first quarter amounted to 14.5 million euros (9.7% of turnover) decreasing in absolute value compared to 15 million euros (9.6% of turnover) in the same period of 2018 as a natural consequence of lower revenues, but stable as a percentage of turnover.
• Net financial position of operations as at 31 March 2019 was negative for the amount of 157.2 million euros, in line with both the value as at 31 December 2018 (156.6 million euros) and with that as at 31 March 2018 (156 million euros).

A modest reduction in volumes is confirmed for the first half of 2019 compared to the same period of the previous year but profitability is growing thanks to the efficiency activities implemented.

Campodarsego (Padua), 13 May 2019 – Carraro SpA, global leader in power transmission systems for off- highway vehicles and specialised tractors, disclosed today the Group’s results for the first quarter of 2019.

“The first three months of 2019, which recorded the stability of profitability despite a slight decline in turnover, highlight our ability to have implemented a flexible business model capable of creating value even in contexts that are not totally favourable. – said Enrico Carraro, Group Chairman – This is possible thanks to a highly efficient structure from the production point of view and to a careful plan to optimise overheads. Moreover, we remain confident regarding the solidity of the main target markets and in particular the visibility for the expected volumes in the construction equipment sector remains positive”.