Carraro Group reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company's consolidated turnover of third quarter was €184.7 million compared to the €217 million of the third quarter of 2013, decreased by 4.9%; in progressive terms the turnover reaches €556.2 million compared to the €666.2 million a year ago. Consolidated EBITDA for third quarter of €10 million (5.4% of the turnover) compared to the €15.3 million of the third quarter 2013 (7.1% of the turnover), decreased by 34.8%; in progressive terms EBITDA of 29.2 million (5.3% of the turnover) compared to the €45.9 million at 30.09.2013 (6.9% of the turnover), decreased by 36.3%. Consolidated EBIT for third quarter of €3.7 million (2% of the turnover) compared to the €7.8 million of the third quarter 2013 (3.6% of the turnover), decreased by 53.2%; in progressive terms EBIT of 8.8 million (1.6% of the turnover) compared to the €23.2 million (3.5% of the turnover) a year ago, decreased by 62.1%.

For the nine months, the company reported revenues were €556.165 million against €666.208 million a year ago. EBITDA was €29.231 million compared to €45.861 million a year ago. EBIT was €8.785 million compared to €23.171 million a year ago. Net result before taxes was negative €3.773 million compared to positive net result of €8.895 million a year ago. Net consolidated result was negative €11.719 million compared to positive net result of €329 million a year ago.

Provided earnings guidance for the fourth quarter of 2014. The expectations for the last part of the year highlight for Carraro Drive Tech a further decline in the reference markets compared to the last quarters, only partly counterbalanced by the recoveries of Agritalia and Elettronica Santerno. In view of this, a negative Group result is expected also for the fourth quarter.