The Board of Directors approves the results for the third quarter 2010
Great improvement in turnover and profitability compared with the previous year
- Consolidated turnover for third quarter 2010 at 191.6 mln euro (+90% compared with 100.8 mln euro of Q3 2009); in cumulative terms growth of 39.2% compared with 30 September 2009 (up from 356.4 mln euro to 496.3 mln euro);
- EBITDA for the third quarter at 15.3 mln euro, well up on the -4.6 mln euro of Q3 2009; a sharp improvement also in cumulative terms with EBITDA at 29.5 mln euro compared with the -6.8 mln euro of 30 September 2009;
- EBIT for the third quarter is positive for 7.4 mln euro, an increase on the -12.5 mln euro of Q3 2009; the cumulative figure also improved considerably, coming out at 5.5 mln euro compared with -30.5 mln euro at 30 September 2009;
- The net income of the third quarter came back to profit: 3.1 mln euro, compared with the loss of 12.4 mln euro of Q3 2009; in cumulative terms the result remained negative at -7.2 mln euro, a recovery compared with the loss of 26.9 mln euro at 30 September 2009;
- The net financial position is a negative 274.2 mln euro (279.3 mln euro at 30 June 2010; 241.1 mln euro at 31 December 2009; 266.9 mln euro at 30 September 2009)
Forecasts for the end of the year: turnover of more than 660 million euro, a jump compared both with financial year 2009 (when it was 487 mln euro), and with the estimates in the Three Year Plan. This reflects the improvement of the Group's competitive position in a more favourable context with the main reference markets.
Profits are expected to improve further by the end of 2010.
The Company By-laws were modified under the terms of Italian Legislative Decrees 27 and 39 of 27 January 2010.