- Revenues amounted to € 0.92 million (€ 30.1 million for the Italeaf Group consolidated)
- EBITDA equal to € 0.24 million (€ 3.4 million for the Italeaf Group consolidated)
- EBIT amounted to € 90 thousand (€ 1.2 million for the Italeaf Group consolidated)
- EBT equal to € -139 thousand (€ -4 thousand for the Italeaf Group consolidated)
- Net profit amounted to € 4 thousand (€ 0.27 million for the Italeaf Group consolidated)
- Shareholders’ Equity amounted to € 27 million (€ 64.2 million for the Italeaf Group consolidated)
- NFP of € 5 million (€ 108.2 million for the Italeaf Group consolidated)
- NAV equal to € 32.8 million; NAV per share equal to € 2.12
- Remodution of the bank debt with MPS, consistent with the PFN Reduction Guidelines
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 31 March, 2017.
Financial highlights*
| As at march, 31 2017 | VS march 31, 2016 | |
| in Euro | ||
| Net revenues from sales and services | 918,092 | -3.2% |
| EBITDA | 243,456 | 102.7% |
| EBIT | 90,443 | 395.3% |
| EBT (Pre-tax result) | (139,302) | -197.7% |
| Net profit | 4,698 | -97.2% |
| VS December, 31 2016 | ||
| Shareholders’ Equity | 27,044,786 | Unchanged % |
| Total net financial position | 16,477,989 | -3.1% |
*Separated Interim Report prepared in accordance with accounting principles ITALIAN GAAP
The NAV of Italeaf amounted to Euro 32.8 million as at 31 March 2017 (Euro 29.5 million as at December 31, 2016; +11%); NAV per share equal to Euro 2.12. The values reported do not take into account the “holding discount” that had previously been calculated by 20%.
The Interim Report as at March 31, 2017 in full version and in English will be published on the Company’s website and on Nasdaq Inpublic.
Other resolutions of the Board
The Board of Directors has appointed the chairman Stefano Neri as CEO and confirmed the powers of the executive director Monica Federici. The Board has also verified the existence of independence requirements by Domenico De Marinis.
The Board of Directors of Italeaf, in line with the guidance of progressive reduction of NFP, has also approved an agreement for the bank debt restructuring of about Euro 8 million with Monte dei Paschi di Siena S.p.A., that provides – inter alia – a modification of the technical forms of loan, with the improvement of the economic conditions applied. The agreement provides, in fact, a halving of annual interest expense of approximately Euro 0.4 million for the same loan. From a financial point of view, Italeaf’s commitment will be substantially unchanged from the current situation, taking into account the gradual capital reimbursement.
The current guarantee structure that already attends this loan has been confirmed, and provides for pledge on TerniEnergia shares for a countervalue of about Euro 9 million. The agreement also provides for Italeaf’s commitment to an extraordinary capital repayment equal to 50% of the distributed dividends if the Shareholders’ Meeting decides on the distribution of dividends.
