EPRICE S.p.A. Reports Consolidated and Parent Financial Results for the Year Ended Dec. 31, 2017; Provides Financial Guidance for Fiscal 2018 and Provides Business Plan for 2018 to 2023
For the year, the parent company reported operating loss of 6,509,000, loss before tax from continuing operations of 7,898,000, loss for the period of 8,236,000 on revenues of 3,026,000 against operating loss of 6,082,000, loss before tax from continuing operations of 6,123,000, profit for the period of 5,596,000 on revenues of 2,826,000 for the last year. Net financial debt was 5,814,000 against 43,097,000 for the last year. Loss from continuing operations was 8,921,000 against was 6,123,000 for the last year. Net cash flow used in operations was 5,519,000 against was 3,625,000 for the last year. Acquisition of tangible assets was 71,000 against was 1,051,000 for the last year. Acquisition of intangible assets was 2,209,000 against was 1,007,000 for the last year.
For fiscal 2018, the company expects, mid-single digit growth of GMV, due to strengthening of the leading position in Service-driven categories and solid growth of the Marketplace; Significant improvement in EBITDA, accelerating in the second semester, also due to a more streamlined organisation and a plan of efficiencies which is already underway equal to 15-20% of the cash costs base; and Positive NFP at year-end.
The company announced the 2018-2023 Plan: Doubling of GMV and Revenues, driven by Large Domestic Appliances, Services and 3P Marketplace; Ebitda margin at 5-6% in the medium-term due to the plan of efficiencies implemented in 2018, strong growth in the MDA and increased penetration of the Marketplace and Services; EBITDA and Operating Cash Flow break even in 2019; Positive cash flows in 2019, including potential earn-outs, in 2020 on an organic basis; Up to 18 million cash-in in the 2018-19 period from the disposals and earn-outs on the sales of BMH and Saldiprivati.