Carraro : The General Assembly of Shareholders has approved the 2015 Financial Statements

• Consolidated turnover amounted to 674 million Euros, down 7.4% compared to 2014 (was 727.8 million Euros).
• Consolidated EBITDA as at 31.12.2015 amounted to 46.9 million Euros (7% of turnover), up 21.1% compared to 38.8 million Euros (5.3% of turnover) in 2014.
• Consolidated EBIT as at 31.12.2015 amounted to 331 thousand Euros (0.1% of turnover), down 97.3% compared to 12.1 million Euros (1.7% of turnover) in 2014.
• Net Loss of 8.9 million Euros (-1.3% of turnover) compared to a loss of 7.9 million Euros (-1.1% of turnover) in 2014.
• Consolidated net financial position as at 31.12.2015 negative at -227.8 million Euros, improving on the figure of -247 million Euros as at 30 June 2015 and in line with the -224.3 million Euros at 31.12.2014.

Bylaws amended by inserting the increased voting rights mechanism.

'Today we are leaving behind a year of lights and shadows, with a negative market environment that affected all the players in our sector and produced a different output with respect to what had been foreseen at the beginning of the year - writes Enrico Carraro, Group Chairman in his Letter to the Shareholders - But the decrease in volumes registered during the year gave further drive and acceleration to the Group's reorganization process. Therefore, we can consider 2015 a pivotal year, that marked a turning point and set down the basis for our new Three-Year Plan'.

'Even if profits have not been registered yet, 2016 confirms the validity and the effects of the undertaken actions. A true change of pace will see our Group register again, within the Plan perspectives, an important growth in terms of profitability with a turnover increase of almost 100 billion Euros. - concluded Enrico Carraro - This will be possible also thanks to the strengthened consensus of several clients, with whom we have recently signed important commercial contracts of medium-long duration. Among all, in particular, the supply agreements we finalized with some of the major constructors of agricultural tractors'.

Go to Press release 15.04.2016