Carraro Group Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Fourth Quarter of 2014
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.