The CAD IT Board of Directors approves the 2016 Draft Financial Statements, calls the ordinary Shareholders' Meeting and proposes an ordinary dividend of Euro 0.20 per share

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, today approved the Draft Financial Statements and the Consolidated Financial Statements as at 31st December 2016.

The Consolidated Financial Statements at 31st December 2016 show:

• Production Value of Euro 57.2 million (Euro 59.8 million in 2015); the increases in internal work capitalized for the development of new products (asset increases due to internal work) were equal to Euro 4.8 million compared to Euro 3.9 million in the previous year;
• Gross Operational Result (EBITDA) of Euro 7.8 million (13.6% of Production Value) compared to Euro 7.5 million in 2015 (12.5% of Production Value);
• Operational Result (EBIT) of Euro 1.7 million (2.9% of Production Value), compared to Euro 1.8 million in 2015 (3.0% of Production Value). The intangible fixed asset amortization increased to Euro 5.3 million in 2016 compared to Euro 5.0 million in 2015 due to the beginning of the amortization schedules of software procedures which have become available for use and for sale;
• Pre-tax and pre-third party share Result of Euro 2.0 million (3.6% of Production Value) compared to Euro 2.1 million in the previous financial period (3.5% of Production Value);
• Result of the period, net of tax and of third party share, attributable to owners of the parent of Euro 1.1 million (2.0% of Production Value) in line with Euro 1.1 million registered in the previous year (1.9% of Production Value).

CAD IT S.p.A. hereby reports that the Group’s Consolidated Net Financial Position at 31st December 2016 is in credit by Euro 0.2 million, compared to Euro 2.5 million registered at 31st December 2015.

The Parent Company CAD IT S.p.A. recorded a Production Value of Euro 57.2 million compared to Euro 59.3 million in the previous financial period with a net result of Euro 1.3 million compared to Euro 0.9 million at 31st December 2015.

Based on the 2016 financial year results, at the coming Shareholders’ Meeting, the Board of Directors has decided to propose the distribution of an ordinary dividend of Euro 0.20 per share, allocating the entire year’s profit of Euro 1.3 million, together with Euro 0.5 million to be withdrawn from the undivided available profits reserve, which will then have a residual amount of Euro 9.3 million.

The dates to be suggested by the CAD IT Board of Directors at the Shareholders’ Meeting for ex-dividend and ordinary dividend payment are May 8th 2017 and May 10th 2017 respectively with the record date set for May 9th 2017.

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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.

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Pursuant to art. 89-bis of the Issuer Regulations, CAD IT S.p.A. reports to have approved the annual report on corporate governance and ownership structures which 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 authorized storage mechanism for regulated information “eMarket STORAGE” on the website www.emarketstorage.com within the deadlines provided for by law. Written notification of such publication will be given.

The Board of Directors has also summoned the ordinary Shareholders’ Meeting in one single call for 27th April 2017.

The Shareholders’ Meeting will be called to deliberate on the approval of the 2016 Financial Statements, the profit allocation, the dividend distribution, the proposal of integrating the Board of Directors through the confirmation of the appointment (which took place on 19th October 2016 pursuant to art. 2386 of the Italian Civil Code and to art. 18 of the Company’s by-laws) of the previously co-opted non-executive director avv. Debora Cremasco and the first section of the remuneration report.

It should be noted that the auditing of the draft financial statements is being completed and that the annual financial report, together with the Board of Auditors’ and the Auditing Firm’s reports, as well as all the other documents related to the Shareholders’ Meeting agenda required by the applicable regulations, will be made available to the public within the deadlines provided for by law.