Friday 12 August 2016
Manutencoop Facility Management S.p.A.: the Management Board presents the Half-year Financial Report as at June 30, 2016
EBITDA amounts to € 51,4 million (+5,4% vs first semester 2015) and Net Result amounts to € 13,0 million (more than doubled vs first semester 2015).
Results show a strong increase in the first 6 months of 2016 (vs first six months in 2015), despite the continuing unfavourable italian macro-economic and market situation, thanks mainly to postive effects of cost containment programs and reduction of interest expenses.
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• Revenues:€ 471,5 million (vs € 480,6 million );
• EBITDA :€ 51,4 million (vs € 48,7 million);
• EBIT: € 34,3 million (vs € 31,9 million);
• Net Result: € 13,0 million (vs € 5,6 million);
Net Financial Position: € 198,4 million (in sharp decline vs € 240,6 million as at December 31, 2015).
The Management Board of Manutencoop Facility Management S.p.A. has presented the Half-year Financial Report as at 30 June 2016, drafted in accordance with international accounting standards (IAS/IFRS).
In the first half of 2016, the MFM Group recorded a sharp increase in Net Result (+129,3%) and margins (EBITDA: +5,4%; EBIT: +7,6%) together with a substantially unchanged Revenues level (-1,9%) mainly due to positive effects of cost containement programs unveiled in previous years and despite the continuing unfavourable Italian macro-economic and market situation.
Main Consolidated Results of the MFM Group as at June 30, 2016
As at June 30, 2016 the MF M Group has recorded Revenues equal to € 471,5 million in slight reduction (-1,9%) vs € 480,6 million as at June 30, 2015, notwithstanding the unfavourable Italian macro-economic and market situation.
MFM Group EBITDA (Gross Operating Margin) amounted to € 51,4 million (+5,4%) vs € 48,7 million recorded in 2015 first semester, mainly thanks to cost containement programs unveiled in previous years.
MFM Group EBIT (Operating Profit) totalled € 34,3 million (+7,6%) vs € 31,9 million totalled as at June 30, 2015, for the same considerations set above.
MFM Group Net Result was equal to € 13,0 million (+129,3%) vs € 5,6 million in first 2015 semester, mainly thanks to less interest expenses as a consequence of Notes buy-back completed in previous years.
MFM Group Net Financial Position at June 30, 2016 was equal to € 198,4 million, in sharp decline (€ -42,2 million) vs December 31, 2015, when it totalled € 240,6 million. Considering the net value of receivables sold on a pro-soluto basis and still not cashed-in by factor agent, the Net Financial Position “Adjusted” as at June 30, 2016 equals € 216,7 million vs € 242,0 million as at December 31, 2015. Deleverage is therefore continuing (€-25,3 million) as a consequence of the general reduction trend of payment delays by clients.
