Rai Way S.p.A. reported consolidated earnings results for the first quarter ended of March 31, 2018. For the quarter, the company's revenues amount to EUR 54 million against EUR 54 million in the first quarter 2017. Net operating profit was EUR 21.4 million compared to EUR 20.1 million a year ago. Profit before income taxes was EUR 21.1 million compared to EUR 19.7 million a year ago. Profit for the year was EUR 14.9 million compared to EUR 13.8 million a year ago. EBITDA was EUR 29.4 million compared to EUR 28.3 million a year ago. Adjusted EBITDA was EUR 29.7 million compared to EUR 28.3 million a year ago. Net operating cash flow was EUR 30.7 million compared to EUR 12.7 million a year ago. Investment in tangible assets was EUR 0.8 million compared to EUR 1.7 million a year ago.

The reaffirmed provided earnings guidance for the full year of 2018. For the full year, the company expects Adjusted EBITDA to keep growing organically. Maintenance capex in the range of 9% of core revenues; going forward, the average level of 8.5% of core revenues is confirmed.