The Board of Officine Maccaferri SpA (Maccaferri Group) has approved the interim financial statement at 30th June 2016
Total revenues for the second quarter were 113.5 million Euro, an increase compared to the result for the first quarter that were to 95.5 million Euro. Total revenues in the first half of the year was 209.0 million Euro, down of 12.6%, remain lower than 2015, mainly due to the currencies devaluation in Latin American countries and non-recurring projects acquired in the first half of the previous year.
EBITDA for the first six months of 2016, equal to 11.1 million Euro – 5.3% of revenues, is lower than the previous year, due to lower sales volumes, and consequent a lower absorption of selling, promotional and technical costs and by the increase in competitive pressure in Latin America markets.
The good performance of net working capital (decrease of 13.9 million Euro compared to the same period of 2015) and the containment of capex to 1.9 million Euro have permitted an improvement in the consolidated Net Financial Position (NFP) compared to the previous year of 7.1 million Euro. The Net Financial Position was 183.9 million Euro.
For more information please see Press Relase Maccaferri Q2