The CAD IT Board of Directors approves the Interim Management Report at 30th September 2017

The Board of Directors of CAD IT S.p.A., leader in the Italian financial software market and listed in the STAR segment of Borsa Italiana, today approved the Interim Management Report at 30th September 2017.

The main consolidated results of the third quarter 2017 are as follows:

• Production Value of Euro 13.8 million (Euro 13.2 million in the third quarter of 2016). During the three months in question, increases in internal work capitalized for the development of new products (asset increases due to internal work) came to Euro 0.9 million compared to Euro 1.1 million in the same period of the previous year;
• Gross Operational Result (EBITDA) of Euro 2.2 million (16.2% of the Production Value) compared to Euro 2.1 million registered in the third quarter of 2016 (15.8% of the Production Value);
• Operational Result (EBIT) of Euro 0.9 million, corresponding to 6.6% of the Production Value, compared to Euro 0.6 million registered in the third quarter of 2016 (4.4% of the Production Value);
• Result of the quarter, net of tax, attributable to owners of the parent of Euro 0.7 million, corresponding to 5.0% of the Production Value, compared to Euro 0.4 million registered in the third quarter of 2016 (3.1% of the Production Value).

The Group’s Consolidated Net Financial Position at 30th September 2017 is in credit by Euro 0.7 million, compared to Euro 3.8 million registered at 30th June 2017 and to Euro 1.1 million registered at 30th September 2016.

The main consolidated results of the first nine months of 2017 are outlined below:

• Production Value of Euro 43.4 million compared to Euro 42.1 million in the same period of the previous year. During the nine months in question, investment for internal work capitalized under fixed assets came to Euro 3.1 million compared to Euro 3.6 million registered in the same period of the previous year. Net sales were equal to Euro 39.8 million compared to Euro 38.5 million registered in the first nine months of 2016;
• Gross Operational Result (EBITDA) of Euro 6.8 million (15.7% of the Production Value) compared to Euro 5.6 million in the first nine months of 2016 (13.2% of the Production Value);
• Operational Result (EBIT) of Euro 2.5 million (5.7% of Production Value) compared to Euro 1.1 million in the first nine months of 2016, corresponding to 2.7% of Production Value;
• Result of the period, net of tax, attributable to owners of the parent of Euro 1.9 million, corresponding to 4.3% of the Production Value, compared to Euro 0.9 million registered in the same period of the previous year (2.2% of the Production Value).

* * *

The Manager charged with preparing the company’s financial reports, Michele Miazzi, declares, pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the document results, books and accounting records. Note moreover that in this press release, in addition to the conventional financial indicators required by IFRS, there are also some alternative performance indicators  in order to allow a better assessment of the economic and financial management trend. These indicators are calculated according to the usual market practices and in compliance with the previous company communications.

* * *

The Interim Management Report at 30th September 2017 is not subject to auditing by the auditing company and will be made available to the public at CAD IT S.p.A. registered office, at Borsa Italiana S.p.A., in the Investor Relations section of the company’s internet website www.caditgroup.com and on the authorized storage mechanism for regulated information “eMarket STORAGE” at www.emarketstorage.com within the deadlines provided for by law. Written notification of such publication will be given.

* * *

The CAD IT S.p.A. Board of Directors, on the positive opinion of the Control and Risk Committee and on the approval of the Board of Auditors in its role as Internal Control and Company Auditing Committee, today engaged PKF Italia S.p.A. to carry out limited auditing services of the non-financial consolidated statement which will be drafted in accordance with Leg. Dec. 254/2016 for the 2017 financial period.