Board approves 2008 draft Annual Report and Consolidated Financial Statements

Amaro (Italy), 16 March 2009


- Consolidated revenues: +20% from €76.54 million to €91.73 million
- Consolidated gross profit: +32% from €38.11 million to €50.41 million
- Consolidated EBITDA: from €1.90 million to €5.92 million
- Adjusted consolidated EBITDA*: from €2.41 million to €7.80 million
- Consolidated EBIT: from € -4.11 million to € -13.52 million
- Adjusted consolidated EBIT*: from € -0.56 million to €+3.33 million
- Consolidated EBT: from € -4.16 million to € -15.68 million
- Adjusted consolidated EBT: from € -0.35 million to €+2.91 million
- Group’s net loss: from € -4.92 million to € -12.71 million
- Adjusted Group’s net loss: from € -2.60 million to € -0.38 million
- Net financial position: €0.57 million, with an improvement of €6.95 million
- Group’s shareholders equity: €134.06 million, versus €121.47 million in 2007


The Board of Directors of Eurotech S.p.A. examined and approved today 2008 Draft Annual Report and Consolidated Financial Statements, that will be submitted to Shareholders Meeting.

Group consolidated revenues reported 20% growth over the financial year 2007, increasing from €76.54 million to €91.73 million, mainly because of a change in the consolidation area due to the acquisition of the Japanese Group Advanet, finalized during the fourth quarter of 2007.

Gross profit came to €50.41 million (+32% year on year), for a margin on sales of 55%, which is a significant improvement over 2007 (€38.11 million, equal to 49.8% of sales revenues), due to the joint effect of the business model, which is based on selling high value products, and the integration of management processes of purchased materials among all Group’s subsidiaries.

EBITDA in the financial year 2008 came to €5.92 million, for a clear improvement over the €1.90 million of the previous year. Thanks also to the significant increase in the gross profit margin, the EBITDA margin on sales increased from 2.5% in 2007 to 6.5% in 2008.


download:
20090316_CS_en.pdf : .pdf (220 Kb) Board approves 2008 draft Annual Report and Consolidated Financial Statements


Share: Share on LinkedIN