Friday 31 May 2013
MFM S.p.A., results for Q1 2013
Despite the general macroeconomic environment, the net profits and margins increased in Q1 2013, while the revenues remained stable.
The Board of Directors of Manutencoop Facility Management S.p.A. has submitted the Report on Operations as at 31 March 2013, prepared according to IAS/IFRS, which shows a significant increase in Net Profits (+12.7%) and profitability (EBITDA: +2.8%; EBIT: + 1.5%), with Revenues remaining stable (+0.03%), despite the ongoing difficulties at the macroeconomic and financial levels.
More specifically:
In the first quarter of 2013, the MFM Group had Revenues of Euro 284.5 million, slightly up (+0.03%) compared to Euro 284.4 million as at 31 March 2012.
The Group’s EBITDA (Gross operating margin) as at 31 March 2013 of Euro 35.4 million is up by 2.8% compared to Euro 34.4 million for the first quarter of 2012.
In the first months of the year 2013 EBIT (Operating result) for the MFM Group was Euro 24.8 million, up by 1.5% compared to Euro 24.5 million as at 31 March 2013.
The Net Profits as at 31 March 2013 for the MFM Group amounted to Euro 11.2 million, up by 12.7% compared to Euro 9.9 million in the first three months of 2012.
As at 31 March 2013, the MFM Group’s Net Financial Indebtedness was Euro 354.6 million, compared to 31 December 2012 when it stood at Euro 325.6 million. This change is mainly due to the seasonality effect related to payments by clients.
Business highlights:
During the first three months of 2013, the Manutencoop Facility Management Group was awarded ad re-awarded, through new calls for tenders, additional contracts amounting to an overall amount over several years of approximately Euro 172 million, up 112.3% compared to Euro 81 million as at 31 March 2012.
