– Consolidated revenues at 108 million euro.
– EBITDA margin improving at 10.3%.
– Reduction in Net Financial Position.
– Board of Directors resolution passed to request transfer of Biancamano shares from the STAR segment to another segment of the MTA market in order to concentrate management efforts on Business Plan
– Revenues of 107.8 million euro compared with 142.0 million euro at 30 September 2013;
– Ebitda of 11.1 million euro compared with 11.3 million euro as of 30 September 2013;
– Ebitda margin at 10.3% compared with 7.9% as of 30 September 2013;
– Ebit of 0.5 million euro compared with (14.4) million euro as of 30 September 2013;
– Net Result at (1.7) million euro compared with (17.9) million euro at 30 September 2013;
– Net Financial Position improving to 127.8 million euro compared with 133.0
million euro as of 31 December 2013.
Rozzano (MI), 13 November 2014
The Board of Directors of Biancamano Spa, a company listed on the Star segment of Borsa Italiana and leading private operator in the Italian Waste Management industry, today approved the consolidated results as at 30 September 2014.
“The Results for the first nine months of 2014 – states Giovanni Battista Pizzimbone, Chairman of Biancamano Spa – discount, in terms of revenues decrease, both the strict selection of potential tenders, and the postponement of a number of tenders originally planned for an earlier date, and some distorted effect highlighted by the market in terms of competition. On the contrary, in terms of operating margins, there is an improvement of profitability, as a result of the successful implementation of operating efficiency and cost containment policies. In order to pursue the revenues increase and the strengthening of profitability, in the last few months we have started a deep Group operating and corporate reorganization process which has highlighted, however, the need of revising the Business Plan on the basis of strategic lines which also include core business development, internationalisation and the expansion of the range of services offered, agreements with business partners relating specific projects and the establishment of a consortium in order to better deal with the market challenges in terms of competition and operating flexibility. We expect to complete the work on the business plan, also with the support of a high standing industrial advisor, within the end of the year. The revised plan, at the end, will be used also in order to try to deal with the operational issues that have emerged in the implementation of the financial recovery operation, which must be overcome or redefined”.