Thursday 17 May 2012
MFM S.p.A., results for the First Quarter of 2012
Significant fresh growth in all the main consolidated results in the first quarter of 2012. Revenue up 8.8%. Profit +35.4%.
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The Management Board of Manutencoop Facility Management S.p.A. presented the Interim Management Report as at 31 March 2012, drafted in accordance with the international accounting standards (IAS/IFRS), which closed with significant growth in both the Net Profit for the year (+35.4% compared to 31 March 2011), and Revenue (up 8.8% over 31 March 2011), and registered a significant improvement in margins at both EBITDA (up 12.1% compared to 31 March 2011) and EBIT (+13.4% compared to 31 March 2011) level.
In the first quarter of 2012, the Manutencoop Facility Management Group recorded highly positive results, despite the ongoing difficulties in the macroeconomic scenario. In fact, as at 31 March 2012, Net Profit, Revenue, and consolidated EBITDA and EBIT increased considerably, thanks to the benefits, in terms of operational efficiency, of the Group’s company restructuring plan.
In the first quarter of 2012, the MFM Group recorded Revenue of € 282.8 million, an increase of 8.8% over the € 261.2 million achieved in the same period of 2011.
EBITDA (Gross Operating Profit) stood at € 34.4 million as at 31 March 2012, an increase of 12.1% compared to the € 30.7 million recorded as at 31 March 2011.
The MFM Group’s EBIT (Operating Profit) in the first quarter of 2012 stood at € 24.5 million, up 13.4% compared to € 21.6 million in the first quarter of 2011.
As at 31 March 2012, MFM’s Net Profit totalled € 9.9 million, against € 7.3 million as at 31 March 2011, marking an increase of 35.4%.
The MFM Group’s Net Financial Indebtedness as at 31 March 2012 amounted to € 340 million, compared to € 296 million as at 31 December 2011. However, this variation is primarily due to the seasonality aspect of payment times. The lengthening in payment times from customers, mainly public sector customers, resulting from the difficult macroeconomic situation, continues to impact Net Financial Indebtedness.
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