Sabaf SpA announced unaudited consolidated earnings results for the first quarter ended March 31, 2012. For the quarter, the company reported total operating revenue and income of EUR 38,298,000 against EUR 41,682,000 for the same period a year ago. Operating profit before depreciation and amortization, capital gains, losses and write downs and write backs of non current assets (EBITDA) was EUR 6,485,000 against EUR 9,304,000 for the same period a year ago. Operating profit was EUR 3,254,000 against EUR 6,259,000 for the same period a year ago. Pre-tax profit was EUR 2,705,000 against EUR 5,730,000 for the same period a year ago. Net profit was EUR 1,700,000 against EUR 3,785,000 for the same period a year ago. Cash inflow from operations was EUR 3,856,000 against EUR 4,929,000 for the same period a year ago. Net financial debt was EUR 13,503,000 against EUR 11,923,000 for the same period a year ago. The company expected a fall in revenues of approximately 5% for fiscal year 2012 and lower operating profitability than in 2011. These targets assume a macroeconomic scenario not affected by unpredictable events. If the economic situation were to change significantly, actual figures might diverge from forecasts.