Draft financial statements for 2012 approved

The improved results in the mechanical Business Units is offset by the negative figures of Elettronica Santerno

The improved results in the mechanical Business Units, which close in profit and with an increase compared to 2011, is offset by the negative figures of Elettronica Santerno, which alone determines the entire Group result. The company specialised in power electronics has, however, already laid the foundations for positive results in 2013.

  • Consolidated turnover of € 874.4 million, a decrease of 5.4% compared to 2011 (was € 924.2 million); the 60% reduction in turnover of Elettronica Santerno is offset by a good performance of the mechanical BU's ( Carraro Drive Tech, Gear World, Carraro Agritalia) which, even in the face of a market downturn from the middle of the year, close 2012 at € 889 million, in line with the previous year (+0.2% compared to € 887 million in 2011)

  • EBITDA of € 40.2 million, down from € 64 million in 2011; net of non-recurring costs, consolidated EBITDA at € 46 million and EBITDA of the mechanical BU's amounting to € 57.7 million, an increase of 9.3% compared to € 52.8 million in 2011

  • EBITDA of € 6.3 million, down from € 31.6 million in 2011; net of non-recurring costs, consolidated EBIT at € 13.9 million and EBIT of the mechanical BU's with an increase of 20.4% (from € 25.3 million to € 30.4 million)

  • Net loss of € 15.3 million compared to a profit of € 5 million in 2011, influenced by non-recurring items - such as extraordinary costs and provisions for the reorganisation in progress (amounting in total to € 7.7 million before tax) - net of which a loss of € 10.6 million would have been recorded, entirely due to the result of the Electronics BU (negative for € 11.5 million).

  • Net financial position with a negative value of € 213.7 million (an improvement compared to the € 304.6 million at 30.09.2012; € 280.8 million at 30.06.2012)

Go to Press release 14.03.2013

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