The CAD IT Board of Directors approves the Interim Management Report at 30th September 2010

  • 12 November 2010, 18:00

The CAD IT Board of Directors has also approved the new procedure on related-party transactions and the harmonization of the Company Bylaws with the mandatory provisions of Legislative Decree no. 27/2010.

The Board of Directors of CAD IT S.p.A., leader in the Italian financial software market and quoted in the STAR segment of Borsa Italiana, today approved the Interim Management Report at 30th September 2010.

The main consolidated results of the third quarter 2010 are as follows:

  • Value of Production of Euro 13 million compared to Euro 13.3 million in the third quarter of 2009;
  • Gross Operational Result (EBITDA) of Euro 1.4 million, corresponding to 10.8% of the Value of Production, compared to Euro 2.3 million in the third quarter of 2009 (17.3% of the Value of Production);
  • Operational Result (EBIT) of Euro 0.5 million, corresponding to 3.5% of the Value of Production, compared to Euro 1.4 million in the third quarter of 2009 (10.8% of the Value of Production);
  • Result of the period net of pre-third party share of Euro 0.5 million, corresponding to 3.8% of the Value of Production, compared to Euro 1.6 million in the third quarter of 2009 (11.6% of the value of Production).

The short-term Net Consolidated Financial Position at 30th September 2010 is in credit by Euro 1.3 million compared to the Euro 3.7 million registered at 30th June 2010, the Euro 5.1 million registered at 31st December 2009.

In order to give a complete report, below are the main consolidated results of the first nine months of 2010:

  • Value of Production was equal to Euro 39 million compared to Euro 40.6 million in the same period of the previous year. The increase in internal work capitalised under fixed assets in the first nine months stands at Euro 3.2 million compared to Euro 3 million in the same period in 2009. Net sales equal Euro 35.9 million in the first nine months of 2010 compared to Euro 36.8 million in the first nine months of 2009;
  • Gross Operational Result (EBITDA) of Euro 3.4 million, corresponding to 8.8% of the Value of Production, compared to Euro 6.4 million in the first nine months of 2009 (15.8% of the Value of Production);
  • Operational Result (EBIT) of Euro 0.5 million, corresponding to 1.4% of the Value of Production, compared to the Euro 3.8 million in the first nine months of 2009 (9.4% of the Value of Production);
  • Result of the period net of pre-third party share of Euro 0.8 million, corresponding to 2.1% of the Value of Production, compared to Euro 4.1 million in the same period of the previous year (10% of the Value of Production).

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The Board of Directors of CAD IT S.p.A. has approved the new procedure on related-party transactions, in accordance with Consob Resolution 17221 of 12th March 2010, as amended by Consob Resolution 17389 of 23th June 2010.

The Board of Directors of CAD IT S.p.A. has also approved the harmonization of the Company Bylaws with the mandatory provisions of Legislative Decree no. 27/2010 implementing Directive 2007/36/EC on the exercising of certain shareholders’ rights in listed companies.

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