The Shareholders’ Meeting approves the 2017 Financial Statements.
The distribution of a dividend equal to € 0.17 per share paid from 23 May 2018 was approved.
New members join the Board of Directors and Board of Statutory Auditors: Enrico Carraro confirmed as Chairman.
First quarter 2018:
- Consolidated turnover amounted to €157.6 million, an 8.3% increase against €145.552 million as at 31.03.2017.
- Consolidated EBITDA for the first quarter of € 15.1 million, above expectations and in line with the value of € 15.9 million for the same period of 2017.
- Net financial position as at 31 March 2018 recorded a debt of € 162.2 million, an increase compared to 31 December 2017 (€ 145.9 million) and a significant improvement compared to € 185.4 million as at 31 March 2017.
The positive trend of the first quarter is confirmed for the whole year 2018, leaving room to even further growth.
“The excellent results recorded in 2017 mark a turning point and project the Group towards new and more ambitious goals. The refound financial solidity will guarantee adequate support for our growth plans”, said Enrico Carraro, Group Chairman.
“The first months of 2018 confirm the already positive trend recorded at the end of last year, with solid demand in almost every market, except for specific geographical areas. This also due to the start-up of several new products in production both in transmission systems and in specialised tractors. – Enrico Carraro added following the Shareholders' Meeting – In scenarios that on the one hand are showing signs of significant growth in volumes and, on the other, upward trends in the prices of raw materials, it is necessary more than ever today to work closely with our Partner suppliers with specific targeted action plans to establish shared development paths”.