Draft financial statements for the year 2008 approved

Turnover of 973 million euro, up 19.6% compared with 2007

CARRARO GROUP:
- Turnover of 973 million euro, up 19.6% compared with 2007
- EBITDA up by 6.55% (69.7 mln € vs. 65.4 mln € in 2007); up by 13.8% net of nonrecurrent provisions (74.4 mln € vs. 65.4 mln € in 2007)
- EBIT down by 6.50% (36.9 mln € vs. 39.5 mln € in 2007); up by 5.5% net of nonrecurrent provisions (41.7 mln € vs. 39.5 mln € in 2007)
- Net profit of 11.3 million Euro (1.16% of turnover) down by 27.4% compared with 2007; net of non-recurrent provisions net profit of 14.5 million Euro (1.49% of turnover, -7% compared with 2007)

In order to ensure an adequate level of capitalization to face up to the current period, which is characterized both by uncertainties and by growth opportunities, the Board of Directors of Carraro SpA resolved to propose to the General Meeting not to distribute dividends. The Board will also examine the evolution of the situation during the current year, reserving the right to propose their distribution in a possible subsequent General Meeting to be called in the second half of the year.

It was proposed to the General Meeting to renew the treasury share purchase scheme.

An action plan was launched to increase the flexibility of the structure and to adjust capacity and production costs to the trend in demand in the reference markets.

Go to Press release 20.03.09

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General Meeting approves 2008 financial statements

Members appointed to the Board of Directors and the Board of Statutory Auditors