Strong start to the year

Financial results
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Last updated on May 2, 2018 at 12:30 pm

Revenues rise 9.7% at constant exchange rates, driven by solid organic growth, higher than the market, and a significant contribution from acquisitions.

Continuous improvement in all profitability indicators: EBITDA increases 7.7% with the margin rising 40 bps and net profit up 19.3%.

Further expansion of the distribution network thanks to strong M&A activity in core markets supported by robust cash generation.

Main results for the first quarter of 20181:

Consolidated revenues of 310.3 million euros, up 9.7% at constant exchange rates and 4.8% at current exchange rates compared to the same period of 2017

EBITDA reached 44.0 million euros, an increase of 7.7%, with the margin coming in at 14.2% of revenues, an increase of 40 basis points compared to the same period of 2017, despite adverse translative FX effect

Net profit amounted to 15.2 million euros, an increase of 19.3% compared to the first quarter of 2017

Net financial debt was 320.1 million euros, higher than the 296.3 million euros reported at December 31st, 2017 due to seasonality

Free cash flow was positive for 8.4 million euros, an increase of around 6.3 million euros compared to the first quarter of 2017

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