BOLZONI S.P.A. CONSOLIDATED FINANCIAL REPORT AT 30 SEPTEMBER 2015
+ 15.8% TURNOVER 102.3 MILLION EUROS
+ 68.8% Ebitda 10.7 million euros
+169.9% PROFIT BEFORE TAX 4.6 MILLION EUROS
Net Financial Position AT 33.0 million euros (- 4.1 million vs 31.12.2014)
The Board of Directors of Bolzoni S.p.A. (BLZ), in today's meeting chaired by the President Emilio Bolzoni, has approved the Group's results at 30 September 2015.
Turnover at 30 September 2015 stands at 102.3 million euros, a 15.8% increase compared to the 88.3 million recorded for the same period last year, and at 33.0 million euros for Q3 2015, up by 12.4% compared to the same period last year. North America consolidates its growth, with a +64.7% in the quarter (+63.1% for the first nine months), compared to the benchmark market which has grown by 7.9% in the quarter. The rest of the world has increased volumes by 33.0% for the quarter (+24.6% at the end of the period) compared to the 15.9% slackening of the market; Europe increases volumes by 6.6% in the first nine months, compared to the market which has grown by 2.2%, including East Europe which is dropping fast.
For the first nine months of 2015 Ebitda stands at 10.7 million (10.4% on turnover) against the 6.3 million euros at 30.09.2014 (7.2% on turnover), an increase of 68.8%. Ebitda in Q3 2015 grows to 3.3 million euros (10.1% on turnover) against the 2.1 million euros of Q3 2014 (7.1% on turnover), an increase of 58.8%.
The quarter records financial costs for 0.385 million due to one-off operation whereby the Bolzoni Group has acquired 20% of Bolzoni Huaxin Hebei in China, bringing the total investment to 100%, and has concurrently sold 20% of Xin Huaxin China.
Profit before tax amounts to 4.6 million euros, a sharp rise compared to the previous financial period.
The CEO Roberto Scotti has commented in a note: 'The results of the recent quarter represent for us an important confirmation as they attest the effectiveness of our choices. In particular, the double-digit growth, stable for the third consecutive quarter - excluding the one-off costs - and especially strong in the US market, corresponds to a considerable gain in market shares. The net financial position has also improved substantially in the quarter thanks to the operating cash flow.'
At September 30, 2015, the own shares in portfolio were n. 18,274, equal to 0.07% of the share capital. As at November 13, 2015 own shares are unchanged.
The interim management report is available on the company website www.bolzonigroup.com, in the Investor Relations area and with the authorized storage system '1info', on the website www.1info.it.
Piacenza, November 13, 2015
Bolzoni, company listed in the STAR segment of Borsa Italiana, is the European leader in the production of attachments for fork lift trucks and the second major manufacturer both worldwide and in the US market.
Through the design, production and distribution of a wide range of attachments, Bolzoni is an important presence in the market niche of lift-truck attachments and industrial material handling.
With a 2014 turnover of about 120 million euros, 19 companies (including the parent company), 8 of which are manufacturing plants situated in Italy, USA, Finland, Germany and China, 10 are commercial subsidiaries and 1 is a financial holding company, Bolzoni is a multinational group with a global organization present on all continents, within the vast market segment of logistics and material handling.
Contact details: Eleonora Palumbo
Investor Relations - Bolzoni S.p.A. Tel. 0523/55.55.11
investor.relator@bolzoni-auramo.com
BALANCE SHEET €/000 | 30.09.2015 | 31.12.2014 |
ASSETS | ||
Non-current assets | 32,872 | 33,909 |
Property, plant and equipment | ||
Goodwill | 10,618 | 10,618 |
Intangible fixed assets | 3,939 | 4,143 |
Investments in associated companies assessed on N.E. | 397 | 2,240 |
Financial assets | 84 | 62 |
Deferred tax assets | 3,519 | 3,454 |
Total non-current assets | 51,429 | 54,426 |
Current assets | 26,972 | 25,479 |
Inventory | ||
Trade receivables | 27,642 | 25,818 |
- of which relating to associated companies | 437 | 460 |
Tax receivables | 733 | 1,090 |
Other receivables | 747 | 815 |
Financial assets available for sale | - | 12 |
Cash and cash equivalent | 10,267 | 4,066 |
Total current assets | 66,361 | 57,280 |
TOTAL ASSETS | 117,790 | 111,706 |
BALANCE SHEET €/000 | 30.09.2015 | 31.12.2014 |
GROUP EQUITY | ||
Share capital | 6,498 | 6,498 |
Reserves | 29,471 | 28,887 |
Result of the period | 3,170 | 1,044 |
TOTAL GROUP EQUITY | 39,139 | 36,429 |
THIRD PART EQUITY | ||
Capital, reserves and retained earnings | 3,156 | 4,047 |
Result of the period | 25 | (136) |
TOTAL GROUP AND THIRD PARTY EQUITY | 42,320 | 40,340 |
LIABILITIES | ||
Non current liabilities | 23,756 | 15,881 |
Long term loans | ||
T.F.R. provision (retirement allowance) | 2,746 | 2,812 |
Deferred tax liability | 1,376 | 1,325 |
Contingency and expenses provisions | 190 | 190 |
Liabilities for derivatives | 393 | 523 |
Other long-term liabilities | 533 | 358 |
Total non-current liabilities | 28,994 | 21,089 |
Current liabilities | 19,327 | 18,890 |
Trade payables | ||
- of which with subsidiary and related parties | - | 31 |
Payables to banks and current portion of long-term loans | 19,083 | 24,726 |
Other payables | 6,824 | 6,093 |
Liabilities for current tax | 947 | 262 |
Current portion of contingency provision | 295 | 306 |
Total current liabilities | 46,476 | 50,277 |
TOTAL LIABILITIES | 75,470 | 71,366 |
TOTAL EQUITY AND LIABILITIES | 117,790 | 111,706 |
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