Draft Financial Statements for 2018 Approved by the Board of Directors

06 March 2019

Turnover reached 624 million Euros, up 3% compared to the previous year.

Growth in key markets. Excellent performance by India, which exceeded 100 million Euros in turnover. Slight decrease in EBITDA, but net of non-recurring components, it remained stable compared to last year (54 million Euros).

Net profit of 12.2 million Euros.

The Board of Directors will propose to the General Members' Meeting of 11 April next to approve the distribution of a dividend of 0.13 Euros per share.

Tomaso Carraro, Vice President of the Group, was appointed Chief Corporate Social Responsibility (CSR) Officer.

"Once again 2018 closes beyond the forecasts of the Strategic Plan presented in September 2017. We have therefore decided to accelerate our investments in Research and Innovation, targeting new technologies, and particularly projects focused on reducing consumption and emissions", says Enrico Carraro, Chairman of the Group.

"The profitability of the financial year that just closed suffered from adverse economic effects such as the increase in the cost of raw materials and the difficulties of supply in some areas of the world. These impacts have already been completely reabsorbed in the last quarter of the year and we can expect better profitability for 2019," continues Enrico Carraro.

"We therefore close 2018 with the pride of a Group that has found a stable financial and asset balance while establishing itself solidly within its key markets, aware of its unique product offerings that represent the most advanced technologies."

Last update: 21 April 2019