The Board of Directors approved the results as at 30 September, 2016. Net income amounted to Euro -2.6 million, due to the write-downs of investments in Veneto Banca and Banca Popolare di Vicenza for € 3.5 million

  • Revenues amounted to € 3.2 million (€ 61.6 million for the Italeaf Group consolidated)
  • EBITDA equal to € 0.8 million (€ 11.1 million for the Italeaf Group consolidated)
  • EBIT amounted to € 0.4 million (€ 2.5 million for the Italeaf Group consolidated)
  • EBT equal to € -3.1 million (€ -2.1 million for the Italeaf Group consolidated)
  • Net profit amounted to € -2.6 million (€ -2.6 million for the Italeaf Group consolidated)
  • Shareholders’ Equity amounted to € 4 million (€ 60.9 million for the Italeaf Group consolidated)
  • NFP of € 3 million (€ 107.2 million for the Italeaf Group consolidated)
  • NAV equal to € 21.3 million

 

The board of directors of Italeaf, holding company and first Italian company builder active in cleantech and smart innovation sectors, listed on on NASDAQ OMX First North, has approved today the interim report as at 30 September, 2016.

 

Financial highlights*

  As at September 30, 2016 As at September 30, 2015 Change
 in Euro
 Revenues from sales and services 3,153,387 3,096,227 +1.85%
 EBITDA 809,754 553,025 +46.42%
 EBIT 358,325 33,195 n.a.
 EBT (3,121,561) 697,476 n.a.
 Net profit/(loss) (2.627.066) 517,459 n.a.
As at September 30, 2016 As at December 31, 2015 Change
 Net working capital (1,133,810) (1,231,758) +8,0%
 Shareholders’ equity 26,400,894 29,954,599 (11,9%)
 Total net financial debt 17,281,571 16,144,394 +7,0%

*Separated Interim Report prepared in accordance with accounting principles ITALIAN GAAP

 

The NAV of Italeaf amounted to Euro 21.3 million as at September 30, 2016.

The Board of Directors, in its analysis of the data for the interim report, has examined the evidence of the value of the process of alignment of its assets ((Already emerged in the half-year report), implementing a write-down of approximately 3.5 million euro. This non-recurring reduction in value concerns investments in the portfolio related to minority stakes in Banca Popolare di Vicenza and Veneto Banca, resulting in the well known crises that have hit the two credit institutions.

 

The Chairman of Italeaf, Mr Stefano Neri, stated:

The performance of the Italeaf Group is strongly positive, thanks to the continuous development of startups in its portfolio and the positive effects of the industrial action taken by the management in the core business. It is clear also a significant improvement of the economic trend, compared to the results of June and also relatively to the previous year, as measured by decrease in operating loss, however, affected by write-downs of equity investments in banks”.

 

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