CAD IT approves the six-monthly results at 30th June 2009

The Board of Directors of CAD IT S.p.A., leader in the Italian financial software market, met today to approve the Six Monthly Report at 30th June 2009.

The main Profit and Loss Account results relating to the first half of 2009 are as follows:

• Value of Production of Euro 27.3 million (Euro 29.4 million in the first six months of 2008). The internal work capitalised under fixed assets came to Euro 1.5 million during the six months in question compared to Euro 1.2 million in the same period last year.
• Gross Operational Result (EBITDA) of Euro 4.1 million (15.1% of the Value of Production), compared to Euro 6 million in the first six months of 2008, corresponding to 20.4% of the Value of Production.
• Operational Result (EBIT) of Euro 2.4 million (8.7% of the Value of Production) compared to Euro 4.2 million in the first six months of 2008, corresponding to 14.5% of the Value of Production.
• Net profit of Euro 1.4 million (5.2% of the Value of Production) compared to Euro 2.3 million in the first six months of 2008 and corresponding to 7.9% of the Value of Production.

The Net Consolidated Financial Position at 30th June 2009 is in credit by Euro 9.1 million compared to the Euro 13.3 million at 31st December 2008 despite dividend payments of Euro 4.5 million.