Consolidated turnover amounted to 145.6 million Euros, a 7.6% decrease compared to 157.6 million Euros recorded in the first quarter of 2016. With constant perimeter (taking into account the deconsolidation of Elettronica Santerno) it grew by 1.8%.
Consolidated EBITDA for the first quarter came in at 15.9 million Euros (10.9% of turnover), more than doubled compared to the 7 million Euros (4.4% of turnover) for the same period of 2016.
The net financial position as at 31 March 2017 recorded a debt of 185.4 million Euros, in line with 31 December 2016 (183.2 million Euros) and an improvement compared to 240.6 million Euros as at 31 March 2016.
“The start of 2017 is showing the first signs of recovery for our reference markets and positive results are already evident to us in terms of both turnover and profitability. – said Enrico Carraro, Group Chairman – We are on the right track and the Group's restructuring plan, initiated in previous years, is finally producing concrete results, with positive figures. It is still early to speak of stable recovery and the high volatility of the main sectors will, in the medium term, still require the strong determination of our Group in managing the business. We will have to be prepared and responsive to compensate physiological changes in market dynamics, typical of the new global economic trends we are experiencing. Today the BoD has finally endorsed the terms and conditions for capital increase and we expect this next major stage to be completed by this month".