Biancamano S.p.A. Announces Group and Parent Earnings Results for the Year Ended December 31, 2012
Biancamano S.p.A. announced group and parent earnings results for the year ended December 31, 2012. The company closed 2012 with consolidated revenues of 248.1 million, down 4.2% on an annual basis compared to 258.4 million as at 31 December 2011. The developments in turnover are due to the differential between the expired contracts and the new ones, and reflect the new tender selection strategy that calls for not participating in the re-awarding of contracts that proved to have unsatisfactory collection timetables, regardless of their profitability. The EBITDA totalled 19.4 million, down 12.2 million compared to 31 December 2011 EBITDA of 31.6 million. LBIT came to 0.9 million, down compared to the 2011 EBIT of 11.6 million. The Group closed 2012 with pre-tax loss of 9.1 million compared with pre-tax profit 2011 of 4.9 million, this figure incorporates the increased incidence of financial charges on the turnover, which rose from 4% in 2011 to 5% in 2012, partially compensated by the higher financial income that most resulted from the arrears interest applied to customers late with payments. Net loss as at 31 December 2012 amounts to 10.7 million compared with the net profit as at 31 December 2011 1.5 million. Net loss from continuing operations was 10.686 million against 0.271 million a year ago. Diluted loss per share was 0.33 against diluted earnings per share of 0.05 a year ago. Cash flow used in operating activities was 9.264 million against cash flow generated by operating activities of 27.098 million a year ago. The company invests in intangible/tangible fixed assets was 17.288 million against 36.264 million a year ago.
The parent company reported revenues of 6,003,984 against 5,685,584 a year ago. LBITDA was 471,449 against 576,010 a year ago. LBIT was 5,366,687 against 887,272 a year ago. Loss before taxes was 3,180,324 against profit before taxes of 2,356,833 a year ago. Net loss from continuing operations was 2,121,192 against net profit from continuing operations of 2,731,496 a year ago. Net loss was 2,121,192 against net profit of 2,731,496 a year ago. Diluted loss per share was 0.065 against diluted earnings per share of 0.084 a year ago. Cash flow used in operating activities was 5,425,715 against cash flow generated by operating activities of 986,278 a year ago. The company invests in intangible/tangible fixed assets was 37,780 against 6,223 a year ago.