Carraro : The General Assembly of Shareholders has approved the 2016 Financial Statements

• 2016 consolidated turnover of 593.7 million Euros, down by 11.9% compared to 2015 (674 million Euros). Net of disposals, the decrease in turnover was only 8.6%.
• Consolidated EBITDA amounted to 39.2 million Euros (6.6% of turnover), down 16.5% compared to 46.9 million Euros (7% of turnover) in 2015; net of non-recurring costs and with constant perimeter, EBITDA amounted to 48.2 million Euros (8.6% of turnover), down 4.9%.
• Consolidated EBIT amounted to 11.8 million Euros (2% of turnover), up compared to 0.3 million Euros (0% of turnover) in 2015. Net of non-recurring costs and with constant perimeter, EBIT grew by 4.3% to 27.7 million Euros.
• Net Loss of 9.1 million Euros (-1.5% of turnover) compared to a loss of 8.9 million Euros (-1.3% of turnover) in 2015. Net of non-recurring operations and with constant perimeter, net profit was 4.8 million Euros (0.9% of turnover), an increase compared to the loss of 3.5 million Euros (-0.6% of turnover) in 2015.
• Consolidated net financial position of operations showed liabilities of 183.2 million Euros at 31.12.2016, compared to 194.6 million Euros at 30 June 2016 and with a significant improvement compared to 227.8 million Euros at 31.12.2015.

'With the closure of 2016, we therefore definitively leave a very complex period behind us and look ahead, bearing in mind a very clear keyword: growth. - writes Enrico Carraro, Group Chairman in his Letter to the Shareholders - Today our Group has all it takes to achieve significant levels of competitiveness, to return to produce profits and to further invest in its development'.

'Thanks to what has been sown, with 2017 we are on the eve of a new era of growth, encouraged in this by the positive signals that we are receiving from our target markets. Faced with these scenarios, it is always nevertheless necessary to keep our guard up, aware of the risk of volatility and possible sudden changes of direction. Precisely for this reason, it is crucial to be able to interpret trends in advance and, above all, be prepared to change direction quickly if necessary. - Enrico Carraro concludes - In this context, we can say with certainty that the Group now has all the levers to compete effectively and start on the road towards full recovery and growth'.

Go to Press release 31.03.2017