The CAD IT Board of Directors approves the consolidated financial results and the draft financial statements as at 31st December 2018

The Board of Directors of CAD IT S.p.A. (www.caditgroup.com), leader in the Italian financial software market, today approved the consolidated financial results of the Group and of the Parent company CAD IT S.p.A. as at 31st December 2018.

The Consolidated Financial Statements as at 31st December 2018, which for the first time includes the Spanish companies acquired during the financial year, show:

  • Production Value of Euro 66.4 million (Euro 62.8 million in 2017); the revenues from sales and services of increases of Euro 62.3 million (Euro 58.5 million in 2017);
  • Gross Operational Result (EBITDA) of Euro 13.5 million (20.3% of Production Value) compared to Euro 12.5 million in 2017 (19.8% of Production Value);
  • Operational Result (EBIT) of Euro 8.5 million (12.9% of Production Value), compared to Euro 6.1 million in 2017 (9.7% of Production Value);
  • Result of the period, net of tax, attributable to owners of the parent of Euro 5.5 million (8.3% of Production Value) compared to Euro 3.7 million registered in the previous year (5.9% of Production Value).

CAD IT S.p.A. hereby reports that the Group’s Consolidated Net Financial Position at 31st December 2018 is in credit by Euro 14.9 million, compared to Euro 8.5 million registered at 31st December 2017.

The reverse merger of the parent company (CAD IT S.p.A., merged company) into the fully owned subsidiary CAD IT S.p.A. (surviving company, formerly CAD S.r.l.) became effective on 1st December 2018, pursuant to Article 2504-bis, paragraph 2, of the Italian Civil Code. The operations of the merged  company are charged to the financial statements of the surviving company from 1st January 2018.

The Parent Company CAD IT S.p.A. recorded a Production Value of Euro 60.0 million, a Gross Operational Result (EBITDA) of Euro 10.8 million, a Operational Result (EBIT) of Euro 5,4 million and a Net Result of Euro 4.7 million.

The CAD IT Board of Directors intends to make use of the broader term provided for by Article 2364 of the Italian Civil Code and by Article 14 of the by-laws for calling the shareholders' meeting called to approve the 2018 financial statements and proposes to allocate the financial year’s net profit to the extraordinary reserve of undivided profits.

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The Manager charged with preparing the company’s financial reports, Michele Miazzi, declares, pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the document results, books and accounting records.

Furthermore, it is pointed out that this press release, in addition to the conventional financial indicators required by IFRS, also contains some alternative performance indicators in order to allow a better assessment of the economic and financial management trend. These indicators are calculated according to the usual market practices and in compliance with the previous company’s communications.

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It should be noted that the auditing of the draft financial statements is being completed and that the draft financial statements and the consolidated financial statements, together with the Board of Auditors’ and the Auditing Firm’s reports, will be made available to the public at CAD IT S.p.A. registered office within the deadlines provided for by law.

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