2018 ANNUAL RESULTS

The year 2018 marks increased volumes and turnover in international markets, accompanied by an increase in the number of countries and customers served. This favourable outcome was achieved despite the widely known national and international economic difficulties.

Today, the Group’s products and services are available in over 78 countries, all through its own business units. The Group’s aggregate turnover in 2018 exceeded EUR 630 million, a 9% increase over EUR 580 million in the previous year. This positive trend is accompanied by a further increase in investments: in 2018 investments exceeding EUR 12 million were added to the EUR 36 million of the two previous years. The development of the international organization, the Research and Development activities and the new services in which the Group has invested led to a positive increase in the number of employees directly employed, totalling 1,127 as at 31 December 2018.

Despite geopolitical tensions, new protectionist scenarios in the economy and the difficult situation in terms of raw material prices, the EBITDA of the Business Units operating in the steel and panels areas remains positive, albeit compressed to EUR 20.7 million.

The capital and financial ratios indicate growth in hareholders’ Equity and a stable Net Financial Position, despite the increase in turnover, thanks to the optimisation of the Group’s treasury.

The market is responding significantly well to our companies’ integrated offer of products and services, which are increasingly conceived on the basis of sustainability and flexibility criteria to serve different international customers.

We are aware of the values expressed by our Business Units, which are focused on our core business, and we believe that our internationalisation and innovation policies will have a positive effect on all our subsidiaries.