The BoD has approved the 2012 3Q results
Consolidated demand from core sectors in contrast with the major crisis continuing on the Italian renewable energies market
- Consolidated turnover for the third quarter amounted to 208.5 million Euros, down 9.5% compared to the third quarter of 2011 (230.5 million Euros); in cumulative terms, turnover reached 682.8 million Euros, up 0.3% compared to 680.9 million Euros as at 30 September 2011
- Consolidated EBITDA for the third quarter was equal to 13.6 million Euros in line with the figure of 13.6 million Euros registered in the third quarter of 2011; in cumulative terms, EBITDA was equal to 37.6 million Euros, down 18.7% compared to 46.2 million Euros as at 30.09.2011
- Consolidated EBIT for the third quarter, equal to 5.6 million Euros, was up 2.6% over the same period of 2011 (5.4 million Euros); in cumulative terms, EBIT was equal to 13.8 million Euros, down 37% compared to 21.9 million Euros as at 30.09.2011
- Consolidated net profit/(loss) for the third quarter was negative by 1 million Euros compared to the loss of 1.1 million Euros in the third quarter of 2011; cumulative net loss amounted to 6.6 million Euros, compared to a profit of 3.7 million Euros as at 30.09.2011. This was due to particularly high tax costs, and the negative performance of the Electronics Business Unit (net loss of 5.5 million Euros)
- The net financial position showed debts of 304.5 million Euros, while it amounted to 280.8 million Euros as at 30 June 2012, and 247.5 million Euros as at 31 December 2011, (258.5 million Euros as at 30 September 2011). This was due to the temporary increase in working capital mainly because trade payable trends were not aligned with the use of warehouse stock.
The Board of Directors has also approved amendments to articles 21 and 30 of the Company By-laws, to bring them in line with provisions introduced by law 120/2011 (Law on “Gender balance”)