2013 preliminary estimates

Important improvement in terms of industrial margin which has been possible thanks to the investments made over the last two years for 70 million

  • Consolidated turnover of 872 million Euros (in line with the 2012 turnover of 874 million Euros, but with a 2% increase in volumes, net of the exchange rates effect)
  • EBITDA of 62 million Euros, with a 54.4% increase compared to the 40.2 million Euros of 2012, 7% on the turnover
  • EBIT amounting to 31 million Euros compared to an amount of 6.3 million Euros in 2012 (3.6% on the turnover)
  • Net Financial Position: -248 million Euros (which has improved, compared to -258.2 million Euros as at 30 June 2013)

Campodarsego (Padua), 24 February 2014 – The Board of Directors of Carraro SpA, a global leader in power transmission systems, chaired by Enrico Carraro, has examined today the preliminary consolidated final data of the Group as at 31 December 2013.

“The preliminary data of the financial year 2013 reveal, above all, an important improvement in terms of industrial margin, which has been possible also thanks to the investments made over the last two years for 70 million, aimed at technological innovation both in the product and in production processes. The most encouraging results come from Carraro Drive Tech, which now gives margins fully in line with the main benchmarks of the sectors in which we operateEnrico Carraro, Chairman of the Group commented – The actions taken, which have led us to develop new products characterized by a higher added value and to acquire new market shares, are producing positive effects”.

The preliminary estimates of the main management data of the financial year show a consolidated turnover equal to 872 million Euros as at 31 December 2013, in line with the 2012 turnover, which amounted to 874.4 million Euros; in terms of volumes, there has been a 2% increase compared to 2012; this has been counterbalanced by a negative exchange rates effect, especially in the last part of the year, consequent to the quick and high devaluation of the Argentinian Peso and of the Indian Rupee. With the exchange rate being the same, the value of the turnover would have been equal to 892 million Euros.

As at 31 December 2013, the estimated EBITDA is equal to 62 million Euros (7% of the turnover), with an increase of 54.4% compared to 2012 (it was of 40.2 million Euros, 4.6% of the turnover). The 2013 the EBIT is estimated to be equal to 31 million Euros (3.6% of the turnover) compared to the 2012 amount of 6.3 million Euros (0.7% of the turnover).

The consolidated net financial position as at 31 December 2013 is estimated to be in the negative for 248 million Euros, and thus it has improved compared to 30 June 2013 (it was in the negative for 258.2 million Euros), but it has increased (as expected) compared to the amount of 213.7 million Euros as at 31 December 2012 as a consequence of the actions taken at the end of 2012 to normalise the data related to the net current assets.

The operating results of the financial year 2013 indicated in this press release are preliminary data, which have not yet been examined by the Board of Statutory Auditors and which have not yet been audited by the Auditing Firm. The draft balance sheet as at 31 December 2013 will be approved by the Board of Directors on 12 March 2014.

Go to Press release 24.02.2014


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