Carraro, further details regarding Elettronica Santerno
Campodarsego, 11 November 2016 – Following the press release of 3 November last, Carraro SpA, a world leader in power transmission systems, has issued a further statement regarding the news that Enertronica SpA is set to take on 51% control of Elettronica Santerno SpA, confirming that this operation was completed in line with the key guidelines set out in the company's Strategic Plan. Furthermore, the most recent press release also specifies that the sale of majority shares in Elettronica Santerno serves to facilitate the execution of the plan, as part of a process of evolution designed to refocus the attention of Carraro SpA on mechanics, the group's core business area.
As a further consequence of the de-consolidation of Elettronica Santerno SpA, the measures announced during the 2016 financial year remain to be confirmed, as the results of the first, second and third quarters are approved with regard to the implementation of the Strategic Plan.
The impact of the operation on consolidated financial data for Carraro SpA will be consistent with the corresponding data for Elettronica Santerno, as detailed in the periodical financial disclosure notice. With regard to this, attention is drawn to the fact that in the Interim Report on Operations (as at 30 September 2016), the net profit/(loss) for the first nine months of 2016 attributable to Elettronica Santerno revealed a loss of 6.031 million Euros, while the net financial position at 30.09.16 was down by 13.624 million Euros.