The first half of 2018 confirms the strong growth trend in revenues and improvement in profitability
Financial results
Last updated on July 26, 2018 at 12:10 pm
Strong top-line growth (+10.2% at constant exchange rates), driven by above-market organic growth and M&A in core markets. Continuous improvement in all profitability lines: EBITDA increases 8.5%(+35 bps) and net profit rises sharply by 23.5%.
Successful launch of the Amplifon product line and the digital ecosystem in Italy after the close of the quarter, Amplifon announced the acquisition of GAES group, the largest ever M&A deal in the company’s history.
Main results for the first half of 20181 :
- Consolidated REVENUES of 662.8 million euros, up 10.2% at constant exchange rates and 6.2% at current exchange rates compared to the same period of 2017
- EBITDA reached 112.2 million euros, an increase of 8.5%, with the margin coming in at 16.9% of revenues, an increase of 35 basis points compared to the same period of 2017 despite the adverse FX translative effect
- NET PROFIT amounted to 49.1 million euros, an increase of 23.5% compared to the first half of 2017
- NET FINANCIAL DEBT was 319.6 million euros, slightly higher than the 296.3 million euros reported at December 31st , 2017 and the 300.5 million euros reported at June 30th , 2017
- FREE CASH FLOW was positive for 44.5 million euros, an increase of 12.0 million euros compared to the same period of 2017
1 For sake of effective comparison with the figures for the first half of 2017, the 2018 data commented on in this press release refer to 2018 figures without the application of IFRS 15 accounting principle (“@ IFRS 2017”), unless stated otherwise
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