CAD IT: the Board of Directors approves the six-monthly results at 30th June 2017

The Board of Directors of CAD IT S.p.A. (www.caditgroup.com), leader in the Italian financial software market and listed in the STAR segment of Borsa Italiana, met today to approve the Half-Yearly Financial Report at 30th June 2017.

The main Consolidated Profit and Loss Account results relating to the first half of 2017 are as follows:

• Production Value of Euro 29.6 million (Euro 28.9 million in the first half of 2016). During the six months in question the increases in internal work capitalized for the development of new products (asset increases due to internal work) stands to Euro 2.2 million compared to Euro 2.5 million in the same period last year;
• Gross Operational Result (EBITDA) of Euro 4.6 million (15.5% of Production Value), compared to Euro 3.5 million in the first six months of 2016, corresponding to 12.1% of Production Value;
• Operational Result (EBIT) of Euro 1.6 million (5.3% of Production Value) compared to Euro 0.6 million in the first six months of 2016 (1.9% of Production Value). The amortization of intangible assets went from Euro 2.6 million in the first six months of 2016 to Euro 2.7 million in the first six months of 2017 due to the beginning of the amortization schedules of software procedures which have become available for use and for sale. The EBIT increase (+184.6%) is mainly due to the improved typology of revenues which resulted in less reliance on external staff;
• Result of the period, net of tax, attributable to owners of the parent of Euro 1.2 million (4.0% of Production Value) after the registration of taxes for Euro 0.4 million, compared to a result of Euro 0.5 million (1.8% of Production Value) in the same period of the previous financial year.

The Group’s Consolidated Net Financial Position at 30th June 2017 is in credit by Euro 3.8 million compared to Euro 0.2 million registered at 31st December 2016 and to Euro 1.7 million registered at 30th June 2016.

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The Half-Yearly Financial Report as of June 30th 2017, together with the certification in compliance with art. 154 bis, paragraph 5, of Legislative Decree 58/98 (Consolidated Finance Act) and the report of Auditing Firm, 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 on the company’s internet website www.caditgroup.com and on the “eMarket STORAGE” authorized storage mechanism for regulated information at www.emarketstorage.com within the deadlines provided for by law. Written notification of such publication will be given.

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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.

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Leg. Dec. no. 254 of 30/12/2016 implemented the 2014/95/EU Directive on non-financial corporate information in our regulations. During 2017, CAD IT has taken steps to effectively finalize and integrate sustainability matters connected to the company's business.

For companies included in the FTSE MIB index, Borsa Italiana's Corporate Governance Code foresees assessing the setting up of a committee within the Board of Directors with the specific task of supervising the above-mentioned sustainability matters.

Although CAD IT is not included in the FTSE MIB index, it has welcomed the suggestion by attributing this function to its Control and Risks Committee as of today.