FIDIA S.P.A. - Order back-log: 29,3 million euros, doubled vs December 31, 2016
- Order entry: 26 million euros (16,7 million euros in the first semester 2016)
- Production value : 22,6 million euros (31,1 million euros at June 30, 2016)
- Net revenues: 17,3 million euros
- EBITDA: -2,2 million euros ( 2,3 million euros as at June 30, 2016)
- Investments: 1,1 million euros increase in the first half-year, due to the conclusion of the activites related to the start in the new plant in Forlì for large machine.
- Net Financial Position: debit by 9,5 million euros (debit by 7,4 million euros as at December 31, 2016)
In the 1stH 2017 the Fidia Group has reported a Production Value of 22,6 million euros, compared to 31,1 million euros realized at the end of first semester of 2016. Consolidated revenues for 17,3 million euros compared to 27,0 million euros in the same period of 2016.
The sales remained on a very satisfying level, and in the first semester the order entry has been definitely superior than the one realized in the same period of 2016; the same positive trend has been noticed also in the third quarter up to day.
Machine delivery has been lower than expectation in H1, but the production plan highlights a significant increase in the second semester.
Fidia's performance has been affected by the macroeconomic trend, especially in the automotive
sector, and by a pronounced stress on selling prices.
"Revenues of second quarter has been significantly better than first quarter, with a remarkable decrease in the period loss.
I would like to recall that first quarter production, and partially second quarter one, has been penalized due to the transfer of activities in the new plant in Forlì, which is now working at its full pace - says Giuseppe Morfino, President and CEO of Fidia. - The very positive order entry - continues Giuseppe Morfino - united with the full production capacity, allows to predict a significant increase in the economic results at the end of the year."
Fidia Group has always invested a lot in R&D, one of its strenghts, and particularly in 2017. Currently, 36 people are working in the department, together with few specialized consultants. The Group had costs for 1,1 million euros in the first semester 2017, around 6,1% of the revenues (1,3 in 1stH 2016, 5,0% of the revenues). The R&D investments of recent years allowed the Group to strengthen its presence in the Aerospace sector, and to book orders for machines in the Energy sector and for
Fidia S.p.A. Capitale Sociale Euro 5.123.000,00 i.v.
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the manufacturing of both innovative materials (as carbon fibre or titanium) and non-ferrous materials (as clay, used in the car modelling).
In details:The overall performance of the semester is attributable to the different business lines: the High Speed Milling Machines sector (HSM) has achieved revenues for 9,7 million euros (18,6 million euros in the same period of 2016). The electronic sector (CNC), has achieved revenues for 1,7 million euros (vs 1,8 on June 30, 2016), and the after sale service sector (Service) has achieved revenues for 6,0 million euros (6,6 million euros in H1 2016).
The gross operating margin (EBITDA), is negative by -2,2 million euros compared to a positive by 2,3 million euros as at June 30, 2016. The operating result (EBIT) is negative by 2,7 million euros compared to 1,8 million euros in the previous period.
The net result of the Group amounted to -2,7 million euros, compared to a positive value of 1,2 million euros at June 30, 2016.
Investments had a 1,1 million euros increase in the first half-year, due to the start of production in the new plant in Forlì for large machine.The Net Financial Position of the Group is a debit by 9,5 million euro vs. 7,4 million euro at the end of 2016; the variation is negatively influenced by the increase of working capital, as well as the increase of the financial debt related to the construction of the new plant in Forlì.
Foreseeable management outlooksThe realized sales performance has been satisfying, and it achieved good results in the first semester. Moreover, the general economic scenery foresees a significant increase in the second semester.
Based on these premises, the management of the Group expects an enhancement in the economic performance of the second semester.
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The interim financial report as at June 30, 2017 together with the Independent Auditors opinion, will be available within today at the Company headquarter, at the 1Info storage system (www.1info.it) andin the Investor Relations section of the corporate internet site (www.fidia.com).
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Pursuant to Art. 154-bis, paragraph 2 of the "Testo Unico della Finanza", the Financial Reporting Officer (the so called "dirigente preposto") dr. Massimiliano Pagnone, declares that all the figures contained in the present press release correspond to the company's records, books and accounting entries.
Fidia S.p.A., headquartered in San Mauro Torinese (TO), Italy, is a world leader company in the design, production and distribution of high-performance integrated milling systems, primarily applied in the manufacturing of molds and dies for automotive industry and in aerospace field. With more than 40 years of experience and 338 employees, Fidia is known as one of the few companies able to provide solutions for the complete milling process, from the definition of the machining program to the finished product. Fidia produces, distributes and maintains worldwide numerical controls for milling systems, high speed milling systems, CAM software for the cutting of complex shapes.
Fidia S.p.A. (Reuters FDA.MI - Bloomberg FDA IM) is listed on the STAR segment (MTA) of the Italian Stock Exchange and has a capitalization of approx. € 34 million.News and additional information about the company can be found on the corporate website at www.fidia.com
For further information, please contact:Fidia S.p.A. dr. Massimiliano Pagnone | Polytems HIR Silvia Marongiu | Polytems HIR Simona D'Agostino |
CFO - Investor Relator | Press Office | Financial Communication |
tel. 011 2227235 | tel. 06 6797849 - 06 69923324 | tel. 06 6797849 - 06 69923324 |
investor.relation@fidia.it | s.marongiu@polytemshir.it | s.dagostino@polytemshir.it |
Fidia Group: consolidated financial statements as at 30.6.2017
Reclassified consolidated profit and loss statement (thousand euros) | 1stHalf 2017 | % | 1stHalf 2016 | % |
Net revenues | 17.329 | 76,7% | 26.985 | 86,8% |
Change in finished goods and W.I.P. stock | 4.117 | 18,2% | 3.121 | 10,1% |
Other revenues and incomes | 1.143 | 5,1% | 978 | 3,1% |
Value of production | 22.588 | 100,0% | 31.083 | 100,0% |
Raw materials and consumables | (8.547) | -37,8% | (11.170) | -35,9% |
Commissions | (155) | -0,7% | (664) | -2,1% |
Transport | (614) | -2.7% | (666) | -2.1% |
Subcontractors | (1.241) | -5.5% | (2.099) | -6.8% |
Other services and operating costs | (5.188) | -23,0% | (5.398) | -17,4% |
Added value | 6.844 | 30,3% | 11.087 | 35,7% |
Personnel costs | (9.001) | -39,8% | (8.831) | -28,4% |
Gross operating margin (EBITDA) | (2.157) | -9,5% | 2.257 | 7,2% |
Allocation to provision for bad debts | (99) | -0,4% | (82) | -0,3% |
Depreciation and amortization | (425) | -1,9% | (325) | -1,0% |
Operating margin of the ordinary activity | -2.680 | -11,9% | 1.849 | 5,9% |
Non-recurring (costs)/revenues | - | 0,0% | - | 0,0% |
Operating margin (EBIT) | -2.680 | -11,9% | 1.849 | 5,9% |
Net financial income (expenses) | (26) | -0,1% | (113) | -0,4% |
Profit/(loss) on exchange rates | 146 | 0,6% | 201 | 0,6% |
Income/(loss) before taxes (EBT) | (2.560) | -11,3% | 1.937 | 6,2% |
Income taxes (current and deferred) | (212) | -0,9% | (715) | -2,3% |
Net income/(loss) for the accounting period | (2.772) | -12,2% | 1.222 | 3,9% |
Income/(Loss) attributable to minority interest shareholders | (78) | -0,3% | (8) | 0,0% |
Income/(Loss) attributable to the Group | (2.694) | -11,9% | 1.230 | 4,0% |
Fidia S.p.A. published this content on 14 September 2017 and is solely responsible for the information contained herein.
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