Positive trend for all main economic indicators.
- Consolidated revenues +79,3%: from 16,6 million Euro to 29,8 million Euro.
- Consolidated EBITDA +73,7%: from 1,9 million Euro to 3,3 million Euro.
- Consolidated EBIT +64,3%: from 1,4 million Euro to 2,3 million Euro.
- Net Finance Position: positive for 21,7 million Euro.
Amaro (Ud), February 14, 2006
The Board of Directors of EUROTECH S.p.A. approved today the financials relating to the fourth quarter of 2005. The Group's revenue for the financial year 2005 amounts to 29,8 million Euro, with a global increase of 79,3% if compared to financial year 2004 (Euro 16,60 million).
This rise is due to the combined effects of the inclusion of the revenues of Erim (which were included only for 3 months in the financial year 2004) and of a 61,1% increase in operating activities, worth Euro 10,1 million.
The internal growth, already emphasized in the previous quarters, is essentially linked to the Group's strategic plan. In particular, the revenues of the American subsidiary Parvus increased from Euro 4.6 million for the year ended December 2004 to Euro 4,8 million for the year ended December 2005 (a 82,7% rise due to our on-going acquisition program and to an increase in the company's activity levels, both of which have positively influenced our revenues from products sales). The parent company registered a 70,3% increase.
The results before amortization, depreciations and financial costs (EBITDA) are positive, amounting to Euro 1.9 million as at December 2004 and to Euro 3.3 million as at December 2005 (a 73,7% increase). This is mainly due to better exploitation of the production potential absorbed by the increase in revenues.
The operating result (EBIT) increased from Euro 1.4 million as at December 31, 2004 to Euro 2.3 million as at December 31, 2005 (a 64,3% increase).
The Group's net profit increased from Euro 0,6 million to Euro 1 million for the years 2004 and 2005 respectively, with a 63,2% increase.
The Group's net financial position is positive for Euro 21,7 million. The increase of Euro 24.1 million is due, for a total amount of Euro 23.644 thousand, to the net income derived from the capital increase that took place on November 30, 2005 following the Group's listing.
The fourth quarter of 2005 shows a sales revenue of Euro 10 million, corresponding to 43,5% of the annual sales revenue (6,9 million euro).
The EBITDA in the fourth quarter of 2005 is positive for Euro 1.7 million (2 million in the fourth quarter of 2004).
The operating result (EBIT) of the fourth quarter of 2005 is positive for Euro 1.3 million (Euro 1,8 million for the same period of 2004).