Monday 12 September 2011
MFM S.p.A., results for the First Half of 2011
Further growth in Consolidated profit (+36%) and margins (EBITDA +8.7%, EBIT +38.9%).
Consolidated results in the first half of 2011 (compared to the first half of 2010):
• Revenue: € 521.1 million (down by 6.1% compared to € 554.9 million);
• EBITDA: € 58.9 million (up by 8.7% compared to € 54.2 million);
• EBIT: € 38.6 million (up by 38.9% compared to € 27.8 million);
•Net Profit: € 11.3 million (up by 36% compared to € 8.3 million).
Manutencoop Facility Management S.p.A.’s Management Board approved the Half-Yearly Financial Report as at 30 June 2011, drafted in accordance with the international accounting standards (IAS/IFRS), which closed with a Net Profit of € 11.3 million, an increase of 36% compared to a Net Profit of € 8.3 million recorded as at 30 June 2010.
Margins also recorded growth (EBITDA up 8.7 %, EBIT up 38.9%) compared to the same period in the previous year, thanks to the benefits, in terms of operational efficiency, of the Group’s company restructuring plan implemented over the last two years. By contrast, revenue fell compared to the same period in 2010. However, if valued on the basis of a constant perimeter, revenue would register an increase of around 3%.
As at 30 June 2011, the MFM Group recorded Revenue of € 521.1 million, a decrease of 6.1% over the € 554.9 million achieved in the first half of 2010.
EBITDA (Gross Operating Profit) stood at € 58.9 million as at 30 June 2011, an increase of 8.7% compared to the € 54.2 million recorded as at 30 June 2010.
The MFM Group’s EBIT (Operating Profit) in the first half of 2011 stood at € 38.6 million, up 38.9% compared to € 27.8 million in the first half of 2010.
As at 30 June 2011, the MFM Group’s Net Profit totalled € 11.3 million, against € 8.3 million as at 30 June 2010, marking an increase of 36 %.
The MFM Group’s Net Financial Indebtedness as at 30 June 2011 amounted to € 329.9 million, an increase when compared to 31 December 2010 (€ 335.1 million).
