EPRICE S.p.A. Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2017
May 09, 2017
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ePRICE S.p.A. reported consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported total revenue was EUR 45,760,000 against EUR 42,220,000 reported last year. The growth in revenues in first quarter of 2017 was therefore 8.4% on the pro-forma figures for first quarter of 2016, net of the Vertical Content and Saldiprivati divisions sold in 2016. Adjusted LBITDA was EUR 2,431,000 against EUR 2,098,000 reported last year. LBITDA was EUR 2,838,000 against EUR 2,214,000 reported last year. LBIT was EUR 4,290,000 against EUR 3,033,000 reported last year. Loss before tax from continuing operations was EUR 4,478,000 against EUR 3,132,000 reported last year. The latter increased by 77.3% compared to first quarter of 2016 mostly as a result of the sizeable investments made in 2016 and first quarter of 2017 in support of growth and for the implementation of the company’s new ERP system. Net loss was EUR 3,779,000 against EUR 4,234,000 reported last year. This was due to the positive contribution related to the earn-out portion already accrued as a result of the fulfillment of certain conditions prescribed contractually within the sale of the Vertical Content division to the Mondadori Group and collected in April 2017, after the end of the quarter. Net cash flow absorbed by operations was EUR 11,510,000 against EUR 3,167,000 reported last year. Acquisition of tangible assets was EUR 1,046,000 against EUR 73,000 reported last year. Acquisition of intangible assets was EUR 2,503,000 against EUR 1,401,000 reported last year.
EPH SpA, formerly ePRICE SpA, is an Italy-based company engaged in the online retail industry. The Company is an e-commerce operator focused primarily on Tech&Appliances in the domestic market. The E-Commerce segment operates through two websites, including www.eprice.it, which focuses on selling household and electronic appliances for houses, as well as home and family products, such as refrigerators, dishwasher machines, dryers, washing machines, microwaves, coffee machines, housewares, toys, video games, and furniture, among others. The other out of two websites, which is www.saldiprivati.com, is focused on offering clothes, articles for home and wines, among others. The Company operates globally.