The CAD IT Board of Directors approves the 2011 Draft Financial Statements, calls the Shareholders. Meeting and proposes a Dividend of Euro 0.24 per share

The CAD IT Board of Directors approves the 2011 Draft Financial Statements, calls the ordinary Shareholders’ Meeting and proposes an ordinary dividend of Euro 0.24 per share

The Board of Directors of CAD IT S.p.A. (www.cadit.it), leader in the Italian financial software market and listed in STAR, today approved the Draft Financial Statements and the Consolidated Financial Statements as at 31^st December 2011.

The Consolidated Financial Statements at 31^st December 2011 shows:

• Production Value of Euro 56.2 million compared to Euro 52.5 million in 2010; internal work capitalised under fixed asset stood at Euro 3.5 million compared to Euro 4.3 million in 2010;
• Gross Operational Result (EBITDA) of Euro 8.2 million (14.5% of Production Value) compared to Euro 4.5 million in 2010 (equal to 8.6% of Production Value);
• Operational Result (EBIT) of Euro 4.6 million (8.3% of Production Value), compared to Euro 0.7 million in 2010 (equal to 1.4% of Production Value). The intangible fixed asset amortization went from Euro 3 million in 2010 to Euro 2.9 million in 2011;
• Pre-tax and pre-third party share Result equal to Euro 4.7 million (8.4% of Production Value) compared to Euro 0.8 million in the previous financial period (1.4% of Production Value);
• Net Result of Euro 1.9 million, equal to 3.3% of Production Value compared to Euro -0.6 million in the previous year (-1.2% of Production Value).

CAD IT hereby reports that the Net short-term Consolidated Financial Position at 31^st December 2011 was in credit and stood at Euro 5.4 million compared to Euro 4.5 million at 30^th September 2011 and to Euro 4.2 million registered at 31^st December 2010.

The Parent Company CAD IT S.p.A. recorded a Production Value of Euro 54.5 million compared to Euro 49.8 million in the previous financial period with a net result of Euro 2.2 million compared to Euro -0.4 million at 31^st December 2010.

On the basis of the 2011 results, the Board of Directors has decided to propose the distribution of an ordinary dividend of Euro 0.24 per share at the Shareholders’ Meeting. The dates that the CAD IT Board of Directors will suggest at the Shareholders’ Meeting for coupon release and ordinary dividend payment are 7^th May 2012 and 10^th May 2012 respectively.

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The manager responsible for preparing the company’s financial reports, Maria Rosa Mazzi, 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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CAD IT reports, in accordance with art. 89 bis of the Issuer Regulations, to have approved the annual Corporate Governance report which will be published, in accordance with the law, on the company’s website and made available at its head offices and at the Borsa Italiana.

CAD IT’s Board of Directors has also summoned the ordinary Shareholders’ Meeting in one single call sitting for April 26^th.
The Shareholders’ Meeting will be called to deliberate on the approval of the 2011 Financial Statements, the profit allocation, the renewal of company’s roles and the first section of the remuneration report.

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Note that the auditing of the draft financial statements has not yet been completed and that the annual financial report, together with statutory and external auditors’ report, will be made available to the public within the deadlines provided for by the law.