Emak SpA reported consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported sales of EUR 79,809,000 compared to EUR 74,410,000 a year ago. EBIT was EUR 2,959,000 compared to EUR 2,123,000 a year ago. EBT was EUR 1,660,000 compared to LBT of EUR 4,180,000 a year ago. Net profit was EUR 767,000 compared to net loss of EUR 3,691,000 a year ago. Net profit attributable to the group was EUR 780,000 or EUR 0.005 basic and diluted share compared to net loss attributable to the group of EUR 3,681,000 or EUR 0.023 basic and diluted share a year ago.

For the nine months, the company reported sales of EUR 309,759,000 compared to EUR 302,182,000 a year ago. EBIT was EUR 26,691,000 compared to EUR 23,609,000 a year ago. EBT was EUR 24,680,000 compared to EUR 15,161,000 a year ago. Net profit was EUR 16,559,000 compared to EUR 7,850,000 a year ago. Net profit attributable to the group was EUR 16,451,000 or EUR 0.101 basic and diluted share compared to EUR 7,730,000 or EUR 0.047 basic and diluted share a year ago. Total net debt at the end of the period was EUR 99,383,000 against EUR 104,781,000 reported a year ago.

For the nine months, the company expected improvement in sales and profitability of the Group, the increase in operating income, combined with efficient management of working capital contributed to the improvement in cash generation in the period, based on what was achieved in the nine months and projections for the last quarter, the Group expects to close the year with sales of about EUR 390 million, Ebitda of around EUR 40 million.