> The Board of Directors approves the Draft Financial Statements as at December 31th, 2015

Best Union Company S.p.A.: The Board of Directors approves the Draft Financial Statements as at December 31th, 2015 and Group Consolidated Financial Statements as at December 31th, 2015: Consolidated Revenues grown by 20,51% and Ebit growns by Euro 3.618 thousand.

  • Consolidated Revenues of Euro 60.360 thousands (Euro 50.085 thousands in 2014) +20.51%
  • Consolidated EBITDA of Euro 9.295 thousands (Euro 5.104 thousands in 2014) +82%
  • Consolidated EBIT of Euro 4.189 thousands (Euro 571 thousands in 2014)
  • Net Financial Position negative of Euro 4.809 thousands (negative of Euro 4,757 thousands as at December 31st, 2014)

Bologna, March 24th, 2016 - Best Union Company S.p.A. Board of Directors, meeting today, has reviewed and approved the draft Financial Statements of the Company as at December 31th, 2015 as well as the Group Consolidated Financial Statements as at December 31th, 2015.

In 2015 the Group achieved an extremely positive performance in term of Revenues, EBITDA and and EBIT. The Group achieves a positive performance in term of Net income (Euro 2.603 thousands).

At a consolidated level, in 2015 the Group reported Revenues for Euro 60.360 thousands, an increase of 20,51% compared to Euro 50.085 thousands at December 31st, 2014. The Revenues performance was due to a significant increase of the national and international activities; the adjusted EBITDA, showed a result of Euro 9.295 thousands (+15,4% of Revenues) compared to Euro 5.104 thousands in the 2014.

The increase in Revenues in 2015 financial period was influenced by :

  • The total consolidation of the activity of the French subsidiaries IREC Sas;
  • The management of the ticketing and access control system services for the global event Expo 2015, held in Milan from May to October; we highlights that the activities of the global exhibition started in 2013, with the development and implementation activities of the integrated electronic ticketing system and access control of the event, whose sales, through B2C and B2B portals created by Best Union Group as BOS platform front end web, started since September 2014;
  • The positive and significant performance of the parent company Best Union Company S.p.A.;
  • The increase of the activity of the subsidiary Charta srl (whose activities were incorporated in Best Union at the end of the 2015), with a particular reference to the B2C sector;
  • The increase of the performance of the controlled company HB Communication;
  • The constant increase of the Foreign Revenues, related to the Countries where the Group operates, due the acquisition of new long term project.

As for the breakdown of sales by business segments, the following is to be noted:

  • 'Fair Exhibition' Segment: turnover increased if compared to th previous financial period, from Euro 10,1 million in 2014 to Euro 14,9 million in 2015, also and in particular due to the Expo Milano 2015 project. In general, the segment registered a positive trend in margins, in increasing compared to the previous year;
  • 'Leisure & Entertainment and Culture' Segment: the excellent performance in terms of revenues, which increased from Euro 32,0 million in 2014 to Euro 40,2 million in 2015. The performance of this segment was still good and in line with the previous year in terms of the margins;
  • 'Sport' Segment: the decrease in revenues compared to the previous year, from Euro 7,9 million in 2014 to Euro 5,5 million in 2015, was mainly due to the exit of the subsidiary Stadium form the consolidation perimeter because was consider as Asset held for sales.

2015 Business overview

In 2015 the Group activity was mainly characterized by:

  • development of the national and international markets;
  • simplification of the corporate structure, and improvement of the organization structure;
  • development of commercial activities for the acquisition of new contracts including through participation in national and international public tenders races, for the maintenance of customers in the portfolio and the launch of new and important contracts;
  • implementation of commercial partnerships with the aim to consolidate and develop the customers base, increasing the products and contents offer and through the integration of complementary services to the core activities;
  • deep analysis of the domestic and international markets in order to evaluate potential acquisitions of target companies operating in complementary segments to those in which the Group operates and to achieve business agreements with other complementary business;
  • improvement in profitability of each projects and improvement of the efficiency and the structure in general.

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Best Union Company S.p.A. issued this content on 25 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 25 March 2016 15:47:32 UTC

Original Document: http://www.bestunion.it/the-board-of-directors-approves-the-draft-financial-statements-as-at-december-31th-2015/?lang=en