– Revenues in 1H 2014 of Euro 112.4 mln (Euro 112.0 mln in 1H 2013)
– EBITDA in 1H 2014 of Euro 7.6 mln, +50.7% on 1H 2013 (Euro 5.1 mln)
– Net loss in 1H 2014 of Euro 1.9 million (loss of Euro 20.9 million in 1H 2013)
– Net debt of Euro 50.0 mln (debt of Euro 56.1 mln at March 31, 2014)
– Significant turnaround reported in 2Q 2014: revenues +9.1% on 2Q 2013, return to net profit (Euro 0.6 mln)
Cavriago (RE), August 28, 2014
The Board of Directors of Landi Renzo, in a meeting chaired today by Stefano Landi, approved the Half-Year Report at June 30, 2014.
Stefano Landi, Chairman and Chief Executive Officer of Landi Renzo stated: “Stable revenues and improved operating margins and cash flows are reported for 1H 2014, following the initiatives undertaken by the Group in preceding years and maintained also in the initial months of the current year. In 2Q 2014 in particular, we returned to profit (Euro 0.6 million) and delivered a turn-around revenue performance, with sales significantly beating the preceding 5 quarters as a result of the successful implementation of the commercial strategies”.