Draft financial statements for the year 2009 approved

A year strongly influenced by the heavy contraction of all main reference markets closes, with evident impacts in terms of both sales and profitability.

  • Sales at 487.4 million euro, in contraction compared with 973.4 million euro as at 31 December 2008.

  • EBITDA negative by 17.6 million euro, it was a positive 69.7 million euro at 31 December 2008; net of non-recurring extraordinary costs, this value would have been negative 1 million euro.

  • EBIT negative by 49.5 million euro, it was a positive 36.9 million euro at 31 December 2008; net of non-recurring extraordinary costs, this value would have been negative 32.9 million euro.

  • Net income negative by 45.9 million euro, it was a positive 11.3 million euro at 31 December 2008; net of non-recurring extraordinary costs this value would have been negative 33.8 million euro.

  • Net financial position at 31.12.2009 came to a debt of €241.1 million euro, in line respect to the value also in debt, of 240.5 million euro at 30 June 2009, but better than that of 30 September 2009 of 266.9 million euro due to a reduction in working capital.

The first 2010 projections confirm the budget estimate in terms of growth of sales and EBITDA, while as of today, the portfolio’s performance indicates further room for improvement.

Go to Press release 22.03.2010

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