Amaro (ITALY), 12 November 2010
- Consolidated revenues: from 57.53 million to 65.76 million, +14.3%
- Consolidated gross profit: from 30.44 million to 33.75 million
- Consolidated EBITDA: from -1.06 million to 1.71 million
- Consolidated EBIT: from -6.91 million to -4.25 million
- Consolidated pre-tax profit (loss): from -7.82 million to -6.30 million
- Net financial debt: 10.9 million
Today the Board of Directors of Eurotech S.p.A. reviewed and approved the results relating to the first nine months and to the third quarter of 2010.
FIRST NINE MONTHS OF 2010
In the first nine months of the year, Group revenues continued to register growth and came in at 65.76 million, advancing by 14.3% compared with 57.53 million in the same period of 2009.
The rise of 8.22 million in sales is a direct consequence of the upturn in orders, which, as highlighted in August, were well above those registered for the same period of the previous year. Also at the end of October 2010, the Groups order backlog maintained growth of more than 50% compared with the same period of 2009. The Group continues to benefit from a general recovery, which, although varying in intensity, has affected different market segments: all areas have shown the beginning of an upturn, with growth therefore also expected at the end of the year compared with 2009.
The gross profit margin in the first nine months of 2010 remained in line with that of previous quarters and that registered at the end of 2009, at 51.3%, down slightly on the 52.9% registered in the first nine months of 2009. This trend reflects the Groups business performance in terms of the mix of products sold. Gross profit as a percentage of revenues remained above 50% in the first nine months of 2010, which is the target set by management. Once again, it confirms the validity of the business model applied by the Group, based on the sale of high value products, and constant attention to COGS, particularly given the current general scarcity of components in the supply chain of integrated circuits (chips).