Isagro S.p.A. Reports Consolidated Earnings Results for the Year Ended December 31, 2016
Isagro S.p.A. reported consolidated earnings results for the year ended December 31, 2016. For the year, the company reported revenues from sales and services of EUR 149,717,000 against EUR 156,048,000 a year ago. EBITDA was EUR 16,217,000 against EUR 19,457,000 a year ago. EBIT was EUR 6,870,000 against EUR 9,787,000 a year ago. Result before taxes were EUR 6,870,000 against EUR 7,418,000 a year ago. Net result from continuing operations was EUR 2,983,000 against EUR 3,382,000 a year ago. Net result was EUR 2,733,000 against EUR 3,132,000 a year ago. Cash flow from operating activities was EUR 7,976,000 against cash flow used in operating activities of EUR 4,271,000 a year ago. Investments in tangible assets were EUR 11,398,000 against EUR 9,706,000 a year ago. Investments in intangible assets were EUR 2,555,000 against EUR 3,415,000 a year ago. Net financial debt as at December 31, 2016 was EUR 52.7 million compared to EUR 47.2 million a year ago. The decrease in revenues against 2015 was due to lower sales in South America for around EUR 6 million and in North America for around EUR 3 million, as well as to lower revenues from agreements with Third Parties for the exploitation of the Intellectual Property of Isagro for around EUR 1 million, with such items only partially offset by higher sales in Europe, East Med and Asia.