Thursday 15 November 2012
MFM S.p.A., results for the Third Quarter of 2012
In the first nine months of 2012, the company recorded strong growth in consolidated Net Profit and Revenues, with EBITDA stable.
• Revenues: € 780.7 million (+2.2%, compared to € 763.8 million);
• EBITDA[1]: € 87 million (-1.1%, compared to € 88 million);
• EBIT: € 52.4 million (-3.6%, compared to € 54.3 million);
• Net Profit: € 18.6 million (+54.2%, compared to € 12 million).
Manutencoop Facility Management S.p.A.’s Management Board approved the Interim Report on Operations as at 30 September 2012, drafted in accordance with the international accounting standards (IAS/IFRS).
Despite a persistently difficult macroeconomic and financial scenario, as at 30 September 2012, the Manutencoop Facility Management Group recorded a significant increase in Net Profit (+54.5%), growth in revenues (up 2.2%) and essentially stable EBITDA, compared to the first nine months of 2011, while EBIT fell (-3.6%), due mainly to the write-downs of receivables in the portfolio, attributable to the financial difficulties encountered by certain customers, especially in the private market, as a result of the negative economic situation.
In the first nine months of 2012, the MFM Group recorded Revenues of € 780.7 million, an increase of 2.2% compared to € 763.8 million in the same period in 2011.
EBITDA (Gross Operating Margin) stood at € 87 million as at 30 September 2012, essentially in line (-1.1%) with the € 88 million registered as at 30 September 2011.
EBIT (Operating Income) of the MFM Group in the first nine months of 2012 totalled € 52.4 million, compared to € 54.3 million in the first nine months of 2011. However, as already highlighted, said variation (-3.6%) is due mainly to some write-downs of receivables in the portfolio, linked to the financial difficulties being faced by certain customers, particularly in the private market.
As at 30 September 2012, MFM’s Net Profit stood at € 18.6 million, a significant increase (up 54.2%) compared to € 12 million as at 30 September 2011.
Net Financial Indebtedness of the MFM Group as at 30 September 2012 came to € 383 million, compared to € 296 million as at 31 December 2011. This increase is primarily linked to the seasonality of the payments from customers, which naturally tend to coincide with the end of the year.
