BOLZONI S.P.A. PRESS RELEASE
Strong turnover increase and increase in marginality Turnover at 69.3 million euros (+17.5% compared to 1H 2014) Ebitda at 7.4 million euros (+73.7% compared to 1H 2014) Result before taxes at 4.1 million euros (+221.2% compared to 1H 2014) Net debt down to 34.2 million euros (- 2.8 compared to 31.12.2014)
The Board of Directors of Bolzoni S.p.A. (BLZ), in today's meeting chaired by Emilio Bolzoni, approves the
Group's results at 30 June 2015.
Turnover at 30 June 2015 stands at 69.3 million euros, up by 17.5% compared to 59.0 million in the same period last year and reaches 35.3 million euros in 2Q 2015, 21.6% more than the same period last year. North America consolidates its growth with a 65.7% result in the quarter (62.1% in the half-year), compared to our market of reference which is up by 8.2% in the quarter. Europe increases its volumes by 12.5% in the quarter (+10.0% in the half-year) compared to the market which registers a 0.8% growth in the quarter; the rest of the world increases volumes by 32.5% (+21.1% in the half-year) compared to the market's 5.9% decline in the second quarter.
Ebitda for 1H 2015 stands at 7.4 million euros (10.6% on turnover) against the 4.2 million euros of 1H 2014 (7.2% on turnover), an increase of 73.7%. Ebitda in 2Q 2015 grows to 3.9 million euros (11.2% on turnover) against the 2.1 million euros of 2Q 2014 (7.4% on turnover), up by 84.0%.
Result before tax amounts to 4.1 million euros, a strong increase compared to the previous financial year
thanks also to lower interest costs on loans and to the positive effects of exchange rates.
In his note, the Chairman Emilio Bolzoni has commented:
"It is with great satisfaction that we publish the results of the second quarter 2015 ending the first half year 2015. Indeed, the numbers confirm some important, solid results. One of the most important is turnover which has
increased far more than the market's trend, with excellent results particularly in the US market and an increase
therefore in our market share. Margin levels have also improved and Ebitda stands at a double-digit figure while net debt has decreased.
So an excellent quarter which improves the already very positive trend of the previous quarter."
The interim management report is available on the company website www.bolzonigroup.com, in the Investor
Relations area and with the authorized storage system "1info", on the website www.1info.it.
.
Bolzoni, company listed in the STAR segment of Borsa Italiana, is the European leader in the production of
attachments for fork lift trucks and the second major manufacturer both worldwide and in the US market.
Through the design, production and distribution of a wide range of attachments, Bolzoni is an important presence in the market niche of lift-truck attachments and industrial material handling.
With a 2014 turnover of about 120 million euros, 19 companies (including the parent company), 8 of which are manufacturing plants situated in Italy, USA, Finland, Germany and China, 10 are commercial subsidiaries and
1 is a financial holding company, Bolzoni is a multinational group with a global organization present on all continents, within the vast market segment of logistics and material handling.
Contact: Eleonora Palumbo
Investor Relations - Bolzoni S.p.A. Tel. 0523/55.55.11
investor.relator@bolzoni-auramo.com
Piacenza, August 5, 2015
Half Year Financial Report of Bolzoni
Group as of 30 June 2015
CONSOLIDATED BALANCE SHEET as of 30 June 2015 and 31 December 2014€/000 Notes | 30.06.2015 | 31.12.2014 |
ASSETS | ||
Non-current assets Property, plant and equipment 1 Goodwill 2 Intangible assets 3 Investments accounted for under the equity method 4 Receivables and other assets Deferred tax assets 5 | 33,967 10,618 4,043 2,432 83 3,546 | 33,909 10,618 4,143 2,240 62 3,454 |
Current assets Inventory | 6 | 27,391 | 25,479 |
Trade receivables | 7 | 28,893 | 25,818 |
- of which with associated and related companies | 27 | 518 | 460 |
Tax receivables | 8 | 945 | 1,090 |
Other receivables | 8 | 589 | 815 |
Financial assets available for sale | 12 | 12 | |
Cash and cash equivalent | 9 | 8,557 | 4,066 |
Total current assets | 66,387 | 57,280 |
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Half Year Financial Report of Bolzoni
Group as of 30 June 2015
CONSOLIDATED BALANCE SHEET as of 30 June 2015 and 31 December 2014€/000 Notes | 30.06.2015 | 31.12.2014 |
GROUP EQUITY | ||
Share capital 10 Reserves Net result of the period | 6,498 30,189 2,872 | 6,498 28,887 1,044 |
TOTAL GROUP EQUITY | 39,559 | 36,429 |
NON-CONTROLLING INTERESTS | ||
Capital, reserves and retained earnings Net result of the period | 4,109 88 | 4,047 (136) |
TOTAL EQUITY | 43,756 | 40,340 |
LIABILITIES | ||
Non-current liabilities Long term financial liabilities 11 Employee benefits - TFR retirement allowance 12 Deferred tax liabilities 13 Long-term provisions 14 Liabilities for derivatives 11 Other long-term liabilities 15 | 17,282 2,761 1,450 190 391 533 | 15,881 2,812 1,325 190 523 358 |
Total non-current liabilities | 22,607 | 21,089 |
Current liabilities Trade payables 16 - of which with associated and related parties 27 Finan. short-term liabilities and current portion of long term loans 11 Other current payables 17 Payables for income taxes 18 Current provision 14 | 20,585 32 25,110 7,968 746 304 | 18,890 31 24,726 6,093 262 306 |
Total current liabilities | 54,713 | 50,277 |
TOTAL LIABILITIES | 77,320 | 71,366 |
TOTALE EQUITY AND LIABILITIES | 121,076 | 111,706 |
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Half Year Financial Report of Bolzoni
Group as of 30 June 2015
CONSOLIDATED STATEMENT OF INCOME for the periods as of 30 June 2015 and 30 June 2014€/000 Notes Net sales 19 - of which with associated and related companies 27 Other revenues | 30.06.2015 69,345 754 96 | 30.06.2014 59,001 910 650 |
Total revenues | 69,441 | 59,651 |
Cost of raw material and consumables 20 - of which with associated companies 27 Cost of services 21 - of which with related parties 27 Personnel costs 22 Other operating expenses Result of associated companies accounted for under equity method 4 | (31,170) - (11,262) - (19,179) (507) 36 | (26,900) (998) (10,511) (236) (17,536) (469) 2 |
Gross operating result | 7,359 | 4,237 |
Depreciation and amortization 1 - 3 Accruals and impairment losses | (2,890) (293) | (2,672) (265) |
Operating result | 4,176 | 1,300 |
Financial income and expenses 23 Currency exchange gains and losses 23 | (761) 657 | (862) 215 |
Result before income tax | 4,072 | 653 |
Income taxes 24 | (1,112) | (507) |
Net result | 2,960 | 146 |
Attributable to : Group Non-controlling interests | 2,872 88 | 219 (73) |
Result per share 25 | ||
- basis, for result of the financial year attributable to Parent's ordinary shareholders | 0.110 | 0.008 |
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