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NET GROWTH OF ECONOMIC RESULTS - THE NET FINANCIAL POSITION IMPROVED BY 16 MILLION EUROS The Draft Financial Statements and the Consolidated Financial Statements at 31st December 2017 has been approved by the Board of Directors. • Increase in consolidated revenues of 3,7%, amounting to Euro 58,77 million (million 56,60 euros in 2016); • Consolidated EBITDA of Euro 6,76 million (+ 21,8% compared to Euro 5,55 million in 2016); • Consolidated net result of Euro 2,41 million (+ 48,9% compared to 1,62 Euro million in 2016); • Positive (Takings) consolidated net financial position of 6,62 million euros compared to the negative Euro 9,45 million in 2016); • A dividend of Euro 0,16 per share will be proposed to the shareholders' meeting and will be made payable from 23 May 2018 with coupon detachment on 21 May 2018 and record date 22 May 2018.
NET GROWTH OF ECONOMIC RESULTS - THE NET FINANCIAL POSITION IMPROVED BY 16 MILLION EUROS

NET GROWTH OF ECONOMIC RESULTS - THE NET FINANCIAL POSITION IMPROVED BY 16 MILLION EUROS

 

The Draft Financial Statements and the Consolidated Financial Statements at 31st December 2017 has been approved by the Board of Directors.

 

• Increase in consolidated revenues of 3,7%, amounting to Euro 58,77 million (million 56,60 euros in 2016);

• Consolidated EBITDA of Euro 6,76 million (+ 21,8% compared to Euro 5,55 million in 2016);

• Consolidated net result of Euro 2,41 million (+ 48,9% compared to 1,62 Euro million in 2016);

• Positive (Takings) consolidated net financial position of 6,62 million euros compared to the negative Euro 9,45 million in 2016);

• A dividend of Euro 0,16 per share will be proposed to the shareholders' meeting and will be made payable from 23 May 2018 with coupon detachment on 21 May 2018 and record date 22 May 2018.

 

 

The Board of Directors of Vetrya [VTY.MI], – Italian Group, recognized leader in the development of digital services, cloud computing platforms, application solutions and broadband solutions, approved today the Draft Consolidated Financial Statements and Financial Statements 2017, which will be submitted to the Shareholders' Meeting called for 27 April 2018.

 

 

Main economic results

 

In 2017 the group recorded consolidated net revenues of Euro 58,7 million (increasing of 3,7% compared to Euro 56,6 million in the previous year), thanks to the considerable increase of customers, innovative services, digital solutions, projects and internationalization policy of its offer.

 

The consolidated gross operating margin (EBITDA) stood at Euro 6,7 million in 2017, an increase of 21,8% compared to the Euro 5,5 million recorded in 2016.  The consolidated EBIT stood at Euro 3,83 million (+29% compared to the 2,97 million in 2016).

 

The consolidated net profit amounted to Euro 2,41 million in 2017.

The consolidated net financial position at 31 December 2016 is positive (Takings) for 6,62 compared to -9,44 millions of euros (negative) at 31 December 2016, recording an increase of over Euro 16 million. The significant result in terms of positive cash flows generation is mainly due to:

 

·         Increase in share capital of 3 October 2017 which generated net incomes of Euro 5.265.527

·         Significant improvement in working capital management

 

The consolidated shareholders’ equity at the end of the year amounted to Euro 18,03 million (about 10,36 million at 31 December 2016). The increase is due to the gain of the year and the paid share capital increase following the listing on the Italian AIM market and later for a total amount including a premium of around 9 million.

 

Convocation of ordinary meeting and documentation.

 

The Board of Directors decided to convene the Ordinary General Meeting of the Shareholders the next 27 April 2018, to deliberate about the approval the financial statements at 31 December 2017.

 

Dividend

 

The CDA will propose at the next Shareholders' Meeting the distribution of a dividend of Euro 0,16 per share. subject to the approval of the above-mentioned Meeting, the dividend will be made payable from 23 May 2018 with coupon detachment on 21 May 2018 and Record Date on 22 May 2018. The total amount of dividend proposed in distribution amounts to Euro 1.053.272,00.

 

The documentation required by the current regulations will be available at the Company headquarters and on the web site www.vetrya.it, investor section required by the current regulations.

 

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