The Board of Directors of GEFRAN S.p.A met today under the chairmanship of Maria Chiara Franceschetti at the company’s headquarters in Provaglio d'Iseo (BS).
The items on the agenda of the meeting included the directors’ examination of the Group’s preliminary consolidated results, which saw revenues of 140.6 million Euro, 5 million Euro higher than the 2018 figure of 135.6 million Euro. The growth rate of +3.7% is a result of the change in the scope of consolidation resulting from the takeover of Elettropiemme S.r.l. in January of last year.
EBITDA amounts to 20 million Euro, unchanged over 2018.
Approval of the company’s draft financial statements and consolidated financial statements at 31 December 2019 is scheduled for 12 March 2020, the date of the next Gefran S.p.A.. Board of Directors meeting. Auditing of the financial statements is still underway at present.
During the meeting, Chairman Maria Chiara Franceschetti provided the directors with an update on the Coronavirus emergency: “No cases have occurred as of yet in our Chinese subsidiary. In view of its reopening, which has however not yet been authorised by the authorities in the district of Shanghai, we have organised medical supervision to guarantee the safety of all our workers and their families.
As for how this has affected business we continue to monitor the situation constantly in order to do everything we can to ensure that the market is served in the best possible way, relying on our production sites all over the globe. In view of the climate of uncertainty and continual change in the overall scenario, it is difficult to predict how the situation will evolve at the moment, and what the concrete extent of its repercussions will be.”
Pursuant to paragraph 2 of article 154-bis of the Consolidated Law on Finance, Fausta Coffano, the executive in charge of financial reporting, declares that the information contained in this press release accurately represents the figures contained in the Group’s accounting records.
This press release contains some “alternative performance indicators” not included in the IFRS accounting principles, whose meaning and content, in line with recommendation ESMA/2015/1415 of 5 October 2015, are illustrated below.
Specifically, the alternative indicators used in the report on the income statement are:
- EBITDA: the operating result before depreciation, amortisation and impairment. The purpose of this indicator is to present the Group’s operating profitability before the main non-monetary items;