Tuesday 17 May 2011
MFM S.p.A., the Management Board approves the Interim Management Report as at 31 March 2011
Net Profit amounts to € 7.3 million, an increase of 57.4%. Ebit and Ebitda also up on the first quarter of 2010. Supervisory Board and Management Board renewed, all members confirmed.
Manutencoop Facility Management S.p.A.’s Management Board approved the Interim Management Report as at 31 March 2011, drafted in accordance with the international accounting standards (IAS/IFRS), which closed with a Net Profit of € 7.3 million, an increase of 57.4% compared to a net profit of € 4.7 million in the same period in the previous year.
Margins also increased over the same period in the previous year. The improvement in EBITDA, EBIT and Net Profit is mainly due to the benefits, in terms of operational efficiency, of the Group’s company restructuring plan. 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%.
In the first quarter of 2011, the MFM Group recorded Revenue of € 261.2 million, compared to € 274.9 million in the same period in 2010.
EBITDA (Gross Operating Profit) stood at € 30.7 million as at 31 March 2011, up 8.5% compared to € 28.3 million as at 31 March 2010.
In the first quarter of 2011, the MFM Group’s EBIT (Operating Profit), amounting to € 21.6 million, recorded a 45% increase compared to the € 14.9 million registered in the first quarter of 2010.
As at 31 March 2011, MFM’s Net Profit amounted to € 7.3 million, compared to € 4.7 million as at 31 March 2010, marking an increase of 55.3%.
The MFM Group’s Net Financial Indebtedness as at 31 March 2011 amounted to € 387.7 million, compared to € 335.1 million as at 31 December 2010. This change is mainly due to the increase in the volume of working capital as a result of the macroeconomic scenario.
On 29 April 2011, the Shareholders’ Meeting of Manutencoop Facility Management S.p.A. resolved to renew the office of the members of the Supervisory Board, confirming all members of the outgoing Board.
The names and CVs of the members of the Supervisory Board and Management Board are available from the Governance section of this website.
