– Revenues of Euro 173.9 mln, +6% compared to Euro 164.6 mln in 9M 2013
– EBITDA of Euro 14.1 mln, +75% on Euro 8.1 mln in 9M 2013
– EBIT of Euro 2.9 mln (EBIT loss of Euro 20.6 mln in 9M 2013)
– Substantial break-even result (net loss of Euro 23.7 mln in 9M 2013)
– Net debt of Euro 47.2 mln (debt of Euro 50.0 mln at June 30, 2014)
– Turnaround confirmed in Q3 2014: revenues +17% on Q3 2013, return to net profit (Euro
Cavriago (RE), November 13, 2014
The Board of Directors of Landi Renzo, in a meeting chaired today by Stefano Landi, approved the Interim Report at September 30, 2014.
Stefano Landi, Chairman and Chief Executive Officer of Landi Renzo, stated: “In recent months, the Group has implemented its commercial and cost reduction strategies: the 9M 2014 results bear out these actions. On the one hand, a number of methane projects began, previously announced by major gas producing Countries: the first results indicate that these projects will take off in the future and the Group has rolled out a series of actions focused on tapping into as many of these initiatives as possible – already achieving a number of successes; on the other hand – continued Stefano Landi – Group margins improved significantly thanks to the efficiency recovery initiatives, which continue to be implemented”.