In the first six months turnover amounted to € 328.4 million, up by 5.7% compared to the first half of last year
Strong acceleration in the first six months of R&D programmes, with particular reference to the new specialised tractor ranges
EBITDA at 30.06.2018 amounted to € 29.1 million (8.9% of turnover), Profit to € 6.7 million (2.03% of turnover).
Consolidated net financial position of operations at 30 June 2018 showing liabilities of € 156 million. Target markets generally positive and with further growth prospects, particularly in the Construction Equipment sector.
Positive expectations for volumes and turnover in the second part of the year. Inefficiencies linked to the supply chain, which partially influenced the margins of the first half, under recovery.
"We are in the presence of more than positive results and with respect to the provisions of the Strategic Plan we are improving in both turnover as well as margins. – says Enrico Carraro, Group Chairman – The first six months of the year could have been even better if we had not had certain supply inefficiencies and the significant increase in the cost of raw materials, both phenomena that characterised the automotive sector during the period and which will be absorbed in the coming months. The good market prospects have also led us to accelerate R&D expenses, with the aim of improving the Group's competitive positioning, with a natural impact on margins”.