Amaro (Italy), 13 May 2011
- Consolidated revenues: from EUR 19.75 million to EUR 20.72 million
- Consolidated gross profit: from EUR 10.15 million to EUR 10.69 million
- Consolidated EBITDA: from EUR 90 thousand to EUR 178 thousand
- Consolidated EBIT: from EUR -2.02 million to EUR -1.77 million
- Consolidated pre-tax profit (loss): from EUR -2.38 million to EUR -2.11 million
- Group net profit (loss): from EUR -2.73 million to EUR -2.29 million
- Net financial debt: EUR 13.19 million
- Group shareholders’ equity: EUR 123.62 million
The Board of Directors of Eurotech S.p.A. today reviewed and approved the results for the first quarter of 2011.
In the first quarter of the year, Group revenues totalled EUR 20.72 million vs. EUR 19.75 million in Q1 2010. The revenues, in line with expectations, allow the Group to have an optimistic view about the current financial year, given that the contribution of different quarters to total annual revenues varies over the year, and the first quarter has historically proved rather insignificant.
Overall, the economic recovery continued, with variable intensity according to the geographical areas and to the sectors in which the Group operates, and with some uncertainty remaining. The global economic scenario continues to have some effects, and the Company’s Management is paying careful attention to assessing the situation and to study weak signals. Eurotech is in particular monitoring the Asia region, in order to check the orders trend in Japan, which in March was hit by an earthquake and consequent tsunami. The Japanese subsidiary will see some order deliveries delayed – by comparison with the forecast budget – from the 1st and 2nd to the 3rd or 4th quarter. Group orders still remain higher than those of last year, and at the end of the first quarter of 2011, the order book was approximately 25% higher than in the same period of 2010.