The CAD IT Board of Directors approves the Interim Management Report at 31st March 2016

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 2016.

The main results in regard to the Consolidated Profit and Loss account at 31st March 2016 are as follows:

• Production Value of Euro 14.9 million (Euro 15.2 million in the first quarter of 2015). The increases in internal work capitalized for the development of new products (asset increases due to internal work) stands at Euro 1.3 million, compared to Euro 1.0 million in the first quarter of previous year;
• Gross Operational Result (EBITDA) of Euro 2.0 million (13,7% of the Production Value) compared to Euro 1.6 million registered in the first quarter of 2015 (10.7% of the Production Value). The EBITDA increase (+25%) is mainly due to the improved quality of revenues which resulted in less reliance on external staff;
• Operational Result (EBIT) of Euro 0.5 million corresponding to 3.2% of the Production Value, compared to Euro 0.3 million registered in the first quarter of previous year (2.2% of the Production Value);
• Result of the quarter, net of tax and of third party share, attributable to owners of the parent of Euro 0.4 million (2.9% of the Production Value) compared to Euro 0.3 million in the first quarter of 2015 (2.0% of the Production Value).

The Group’s Consolidated Net Financial Position at 31st March 2016 is in credit by Euro 6.6 million compared to Euro 2.5 million registered at 31st December 2015 and to Euro 7.6 million registered at 31st March 2015.

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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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The Interim Management Report at 31st March 2016 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 of the company’s internet website www.caditgroup.com and on the authorized storage mechanism for regulated information “NIS-Storage” at www.emarketstorage.com within the deadlines provided for by law. Written notification of such publication will be given.

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CAD IT announces that, as partial amendment to the corporate events calendar for the current year, the Meeting of the Board of Directors for the approval of the Half-year Financial Report as at 30th June 2016 will be held on 22th September 2016, instead of 25th August 2016 as previously notified.

Any other information provided in the calendar already distributed to the market remains unchanged.

Below please find the updated version of the financial calendar for the remaining period:

The market will receive prompt notification of any variations to the above dates.

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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 provided for by the Corporate Governance Code of Borsa Italiana S.p.A. and has appointed the non-executive and independent Director, Lamberto Lambertini, as Chairman of the “Nominating and Remuneration Committee”.