The CAD IT Board of Directors approves the Interim Management Report at 31st March 2014

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 Interim Management Report at 31st March 2014.

The main results in regard to the Consolidated Profit and Loss account at 31st March 2014 are as follows:

• Production Value of Euro 13.8 million compared to Euro 13.0 million in the first quarter of 2013. The increases in internal work capitalized for the development of new products (asset increases due to internal work) stands at Euro 0.9 million, in line with the first quarter of  previous year;
• Gross Operational Result (EBITDA) of Euro 1.5 million, corresponding to 10.8% of the Production Value, compared to Euro 1.3 million registered in the first quarter of 2013 (9.7% of the Production Value);
• Operational Result (EBIT) of Euro 0.3 million corresponding to 2.0% of the Production Value, compared to Euro 0.2 million in the first quarter of 2013 (1.3% of the Production Value);
• Result of the period net of third party share of Euro 0.4 million (2.7% of the Production Value) in line with the first quarter of previous year (3.3% of the Production Value).

The Consolidated Net Financial Position at 31st March 2014 is in credit by Euro 0.1 million compared to Euro 2.6 million in debit registered at 31st December 2013.

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The Manager charged with preparing the company’s financial reports, Daniele Mozzo, 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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The CAD IT S.p.A. Board of Directors has positively assessed the subsistence of the necessary requirements for its independent directors as set down by the Corporate Governance Code of the Borsa Italiana S.p.A..

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The Interim Management Report at 31st March 2014 will be made available to the public at CAD IT S.p.A. registered office, at Borsa Italiana S.p.A. and in the Investor Relations section on the company’s internet website www.caditgroup.com, within the deadlines provided for by law. Written notification of such publication will be given.