PRESS RELEASE
BOLZONI S.p.A. (BLZ.MI) informs that the Board of Directors of Bolzoni S.p.A, in today's meeting chaired by Emilio Bolzoni, approved the Group's consolidated financial statement and the draft financial statement of the Parent company at 31 December 2015. The Board of Directors also approved the Report on Corporate Governance and ownership structure, the Report on Remuneration and the Memorandum on the points in the order of the day for the Shareholders' meeting.
Turnover stands at 138.3 million euros at 31 December 2015, a 15.4% increase compared to the 119.9 million euros recorded for the same period last year, and 36.0 million euros for Q4 2015, up by 14,1% compared to the same period last year. North America consolidates its growth, with a +44.3% in the year (+6.5% in the fourth quarter), compared to the benchmark market which has grown by 2.7%. The rest of the world has increased volumes by 21.5% for the quarter (+24.0% at the end of the period) compared to the 14.9% slackening of the market; Europe increases volumes by 14.8% in the fourth quarter and by 8.7% at the end of the period, compared to the market which has grown respectively by 9.4% and 4.1%.
Ebitda at 31 December 2015 amounts to 14.4 million euros (10.4% on the turnover) compared to 8.6 million in 2014 (7.2% on the turnover) and result before tax is in at 7.0 million euros compared to 2.1 million euros in 2014. In the fourth quarter EBITDA amounts to 3.7 million euros compared to 2.3 million euros in 2014 and the group profit before taxes closes at 2.4 million euros.
In his note, the Chairman Emilio Bolzoni has commented: "An excellent increase in turnover, better than in all areas of the market, the marginal levels, with the double digit EBITDA, returns to 2008-2009 pre-crisis level. Net debt is also very good with a positive cash flow of nearly 9 million euros. All the results are perfectly in line with our business plan".
Turnover for the parent Bolzoni S.p.A. alone in 2015 shows a turnover of 70.9 million euros compared to 63.4 million euros in 2014 and a net result of 3.2 million euros compared to 2.3 million in 2014.
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In order to maintain an higher level of capitalization, also regarding the transaction of the acquisition by Hyster- Yale Materials Handling, Inc (or another company chosen by Hyster Yale, from within its group, as notified in the press releases issued on 15th of February and 4th of March, the Board of Directors makes a conservative proposal to allocate the 2015 net profit of Bolzoni S.p.A to the equity reserve.
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The annual ordinary Shareholders' meeting will be held on Friday April 29, 2016 at the company's legal offices situated in Podenzano (PC), località "I Casoni", at 10 a.m.
The topics in the Meeting's agenda will be:
the approval of the company financial statements for the year ended 31 December 2015,
the approval of the Remuneration Report by Shareholders;
. the integration of the Board of Directors in course of office; and
the appointment of the Board of Statutory, and its Chairman, the determination of the number of members; the related remuneration; related resolution and resulting matters.
As required by law, the documentation regarding the Agenda will be deposited within the established terms and made available to the public both at the Company's legal offices. The Shareholders are entitled to obtain a copy. The Rules for Shareholder Meetings and the Company Bylaws are available at the Company's legal offices in Podenzano (Piacenza), Località I Casoni and on the Company's web-site www.bolzonigroup.com , in the Governance area, and will also be available during the Annual Meeting.
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At December 31, 2015, the number of treasury shares in portfolio were 18,274, equal to 0.07% of the share capital. At March 14, 2016, the situation remains unvaried.
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Mr Marco Bisagni, the manager responsible for the preparation of the corporate accounting documents, in accordance with paragraph 2 article 154-bis of TUF, declares that the accounting disclosures contained in this press release correspond to the results of the accounting books and entries.
Bolzoni, a company listed in the STAR segment of Borsa Italiana, is the European leader in the production of
lift-truck attachments 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 2015 turnover of approx. 138 million euros, 19 companies (including the parent company) of which 8 are manufacturing plants situated in Italy, U.S.A., Finland, Germany and China, 10 are commercial subsidiaries and 1 is a financial holding company, Bolzoni represents a true multinational group with a global organisation present in all continents and one of the most dynamic realities at a worldwide level within the vast market segment of logistics and material handling.
Contact: Eleonora Palumbo
Investor Relations - Bolzoni S.p.A. Tel. 0523/55.55.11
investor.relator@bolzoni-auramo.com
Piacenza, March 14, 2016
CONSOLIDATED BALANCE SHEET at 31 December 2015
BALANCE SHEET €/000 | Notes | 31/12/2015 | 31/12/2014 |
ASSETS | |||
Non-current assets | 33,170 | 33,909 | |
Property, plant and equipment | 4 | ||
Goodwill | 5 | 10,618 | 10,618 |
Intangible fixed assets | 6 | 3,937 | 4,143 |
Investments in associated companies | 7 | 380 | 2,240 |
Financial receivables and other financial assets | 8 | 82 | 62 |
Deferred tax assets | 9 | 3,615 | 3,454 |
Total non-current assets | 51,802 | 54,426 | |
Current assets | 24,862 | 25,479 | |
Inventory | 10 | ||
Trade receivables | 11 | 28,034 | 25,818 |
- of which related to associated companies | 11,34 | 318 | 460 |
Tax receivables | 12 | 648 | 1,090 |
Other receivables | 13 | 380 | 815 |
Financial assets available for sale | 14 | - | 12 |
Cash and cash equivalent | 15 | 9,080 | 4,066 |
Total current assets | 63,004 | 57,280 | |
TOTAL ASSETS | 114,806 | 111,706 |
CONSOLIDATED BALANCE SHEET at 31 December 2014
BALANCE SHEET €/000 | Notes | 31/12/2015 | 31/12/2014 |
GROUP EQUITY | |||
Share capital | 16 | 6,498 | 6,498 |
Reserves | 16 | 28,666 | 28,887 |
Net result of the year | 4,782 | 1,044 | |
TOTAL GROUP EQUITY | 40,946 | 36,429 | |
NON-CONTROLLING INTERESTS | |||
Capital, reserves and retained earnings | 3,124 | 4,047 | |
Net result of the year | 142 | (136) | |
TOTAL EQUITY | 44,212 | 40,340 | |
LIABILITIES | |||
Non-current liabilities | 22,146 | 15,881 | |
Long term loans | 17 | ||
Employee benefits -T.F.R. retirement allowance | 18 | 2,646 | 2,812 |
Deferred tax liability | 9 | 1,496 | 1,325 |
Long-term provisions | 19 | 200 | 190 |
Liabilities for derivatives | 20 | 362 | 523 |
Other long-term liabilities | 471 | 358 | |
Total non-current liabilities | 27,321 | 21,089 | |
Current liabilities | 19,427 | 18,890 | |
Trade payables | 21 | ||
- of which towards related parties | 34 | - | 31 |
Financial short-term liabilities and current portion of long term loans | 17 | 15,706 | 24,726 |
Other current payables | 22 | 6,605 | 6,093 |
Payable for income taxes | 23 | 1,254 | 262 |
Current provision | 19 | 281 | 306 |
Total current liabilities | 43,273 | 50,277 | |
TOTAL LIABILITIES | 70,594 | 71,366 | |
TOTAL EQUITY AND LIABILITIES | 114,806 | 111,706 |
Bolzoni S.p.A. issued this content on 14 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 March 2016 12:22:23 UTC
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