Thursday 05 September 2013

MFM Group, main consolidated Results as at 30 June 2013

Further growth in Net Profit (+45.5%) and profitability (EBITDA: +2.2%; EBIT: +13.1%). Good stability in Revenues.

The Management Board of Manutencoop Facility Management S.p.A. presented its Half-Year Financial Report as at 30 June 2013, prepared in accordance with IAS/IFRS. During the half, there was decisive growth in Net Profit (+45.5%) and profitability (EBITDA: +2.2%; EBIT: +13.1%), as well as good stability in Revenues (+0.04%) despite lasting difficulties in the macroeconomic and financial scenarios.

In the first half of 2013, Revenues of the MFM Group totalled € 541.2 million, basically in line (+0.04%) with € 541.0 million recorded at 30 June 2012.

The MFM Group’s EBITDA stood at € 60.6 million as at 30 June 2013, up by 2.2% compared to € 59.2 million in the first half of 2012.

In the first six months of 2013, the EBIT of the MFM Group totalled € 40.6 million, up by 13.1% compared to € 35.9 million as at 30 June 2012.

The MFM Group’s Net Profit was € 16.3 million as at 30 June 2013, up by 45.5% compared to € 11.2 million in the first six months of 2012. This increase is mainly due to the positive effects of a commercial action aimed to maintain volumes combined with a constant cost control program. Moreover, the reduction of the Net Financial Indebtedness has led to less financial expenses.

As at 30 June 2013, the Net Financial Indebtedness of the MFM Group stood at € 439,4 million , showing a sharp reduction compared to 31 December 2012, which equaled € 524,6 milion. This change reflects a sharp decrease in paying delays from both public and private clients.

Press Release - Results at June 30, 2013

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