LANDI RENZO: BOARD OF DIRECTORS APPROVES H1 2019 RESULTS

  • The Group confirmed a positive net result, further strengthening its positioning in the OEM channel
  • New credit facilities by leading Italian banks:
    • Previous financial debt repaid in full
    • New investments in R&D activities
  • Consolidated revenues amounted to €102 million, increasing (+4.9%) compared to €97.3 million at June 30, 2018.
  • EBITDA at €13.3 million (13% of revenues), up 4.6% compared to the same period of the previous year (€12.7 million)
  • Adjusted EBITDA at €13.6 million, in line with the figure at June 30, 2018 (€14.1 million)
  • Net result at €2.9 million, sharply improving compared to €1.7 million at June 30, 2018
  • Net Financial Debt at €60.7 million (at €53.7 million before the application of IFRS 16), essentially in line with the figure at December 31, 2018 before the application of
    IFRS 16 (€52.9 million)

 

Cavriago (RE), September 11, 2019

The Board of Directors of Landi Renzo, chaired by Stefano Landi, met today and approved the First Half Financial Report at June 30, 2019. The H1 2019 results were positive both in terms of revenues and net result, in line with management’s forecasts and the 2018-2022 Strategic Plan. The Group kept adequate levels of profitability consistent with the budget, despite a higher ratio to revenues of sales within the OEM channel, whose margins are generally lower than those generated on the After Market channel. The Group continued to report a positive net result (€2,886 thousand), further improving on H1 2018 (€1,692 thousand). Landi Renzo, which aims at keeping a central role in the mobility of the future, also forged ahead its R&D activities regarding several projects started in 2018, in addition to launch new initiatives with international partners.

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