PRESS RELEASE 30 NOVEMBER 2016 ITALEAF: Interim Report January-September 2016 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 € 26.4 million (€ 60.9 million for the Italeaf Group consolidated)
- NFP of € 17.3 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 ".
The Interim Report as at September 30, 2016 in full version and in English, attached to this press release, will be published on the Company's website.
This press release is also available on the Company website: www.italeaf.com .
Certified Adviser Mangold Fondkommission AB is the Certified Adviser of Italeaf on NASDAQ OMX First North.
For further information please contact: Filippo Calisti CFO - Italeaf S.p.A. E-mail: calisti@italeaf.com
Mangold Fondkommission AB Tel. +46 (0)8 5030 1550 info@mangold.se
Italeaf SpA, established in December 2010, is a holding company and a business accelerator for companies and startups in the areas of innovation and cleantech. Italeaf operates as a company builder, promoting the creation and development of industrial startups in the fields of cleantech, smart energy and technological innovation. Italeaf has headquarters and plants in Italy at Nera Montoro (Narni), Terni, Milano and Lecce; has international offices in London and Hong Kong and a research and development centre in the Hong Kong Science and Technology Park. The company controls TerniEnergia, listed on the STAR segment of the Italian Stock Exchange and active in the fields of renewable energy, energy efficiency and waste management, WiSave in the "internet of things" field, for the development and production of thermostats and smart technologies for the remote control of electrical and heating items of buildings managed through a cloud infrastructure, and Skyrobotic, in the business development and manufacture of civil and commercial drones in mini and micro classes for the professional market, Numanova, operating in the field of innovative metallurgy and additive manufacturing and Italeaf RE, a real estate company.
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