Preliminary year-end estimates 2010
Consolidated turnover of over €717 million (+47% from 2009)
- EBITDA at approx. € 50 million (6.9% of turnover, strongly increasing over 2009)
- Despite the great upturn on 2009, the net result is forecast as a slight loss due to the tax items
- Net financial position as debt of € 271 million (€ 274 million as of 31.09.2010; € 279 million as of 30.06.2010)
Campodarsego (Padua), 25 February 2011 - Today the Board of Directors of Carraro SpA, the international leader in power transmission systems, chaired by Mario Carraro, examined the estimated consolidated Group results as at 31 December 2010.
The preliminary estimates of the financial year's main operating figures show a consolidated turnover at 31.12.2010 over € 717 million, a 47% increase over 2009 (it was at € 487 million).
As at 31 December 2010, EBITDA is estimated at approx. € 50 million, 6.9% of turnover, strongly increasing over 2009 (when it was negative by € 18 million).
Despite enjoying a major upturn as compared with 2009, the effect of the tax items means that the net result is forecast as a slight loss.
The Net Financial Position as at 31 December 2010 is estimated as debt of € 271 million, an improvement compared to € 274 million as at 30.09.2010 and € 279 million as at 30.06.2010.
The 2010 financial year's economic results reported in this press release are preliminary. They have not yet been examined by the Board of Statutory Auditors or certified by the Auditing Firm.
The draft financial statements as at 31 December 2010 will be approved by the Board of Directors on 29 March 2011.
"In a scenario characterised by the recovery of all main reference markets, the preliminary results for 2010 confirm and exceed the expectations of the 2010/12 Three‐year Plan both in terms of growth and of profitability - said Enrico Carraro, the Group’s Deputy Chairman – The Group has an established presence in all areas with strong economic growth and the continued introduction of new products has allowed us to increase our market share and reinforce our position as a leader on the global market, even during this period.”