Zola Predosa (BO), 18 May 2018. The Board of Officine Maccaferri S.p.A. (Maccaferri Group), chaired by Alessandro Maccaferri, has approved the interim financial statements for the period ending on 31st of March 2018.
The quarter confirmed the positive trend with improved results in all operating and financial indicators and further improvement in the net debt.
The total revenue for the first quarter was € 121 million, with a double-digit increase compared to the same period of previous year, equal to € 107 million (despite of a negative fx effect of about € 10.5 million). Revenue grew 23% at constant exchange rates. This result was mainly driven by North America and Asia Pacific, but in general, all regions have performed positively.
The total revenue for LTM March 2018 was equal to € 510.5 million, increasing 2.8% against full year 2017.
The EBITDA of the first quarter was € 6 million (€ 4 million higher than the first quarter of 2017). The EBITDA margin percentage on total revenue was 5.0%, higher than 2017 equal to 1.8% mainly thanks to higher revenues, improved mix of products and overhead cost control.
The EBITDA for LTM March 2018 was € 48.1 million, increasing 9.2% vs full year 2017.
Net debt – equal to € 148.2 million – decreased of 36 million compared to the same period of 2017. This achievement was due to the improved operating cash flow and to the effective working capital management. The Net Leverage Ratio (Net Debt/EBITDA) based on 12 months rolling was 3,1x, against the 4,7x of the first quarter 2017.
Founded in 1879 and headed by Alessandro Maccaferri, Officine Maccaferri, is a global company leader in the environmental engineering with total turnover 2017 at 497 million Euro, 33 plant operating in 4 continents, about 3000 employees and commercial active in over 100 countries. Historical company of Maccaferri Group, Officine Maccaferri offers advanced engineering solution for coastal protection, reinforcement of the soil, rockfall protection and tunnelling. www.maccaferri.com
The Maccaferri Group is headed by the family holding, S.E.C.I., a company which operates since 1949 in various business areas through its seven divisions: Officine Maccaferri (Environmental engineering), Manifatture Sigaro Toscano (Tobacco), Sadam (Food and Agro-industry), Samp (Mechanical Engineering), Seci Real Estate (Buildings) and Seci Energia (Energy) and JCube (Innovation hub). The Group, chaired by Gaetano Maccaferri, has a worldwide presence with 57 factories and a total turnover of 1,039 billion Euro. www.maccaferri.com