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APPROVED THE 2015 FINANCIAL STATEMENT AND ELECTED THE COMPANY’S BODIES FOR THE THREE-YEAR PERIOD 2016-2018

Posted: 27 June 2016

27/06/2016

The general shareholders meeting held on the 24th of June 2016 approved the financial statement 2015.

This is the main data:

Turnover 14,548,582 Euro (+11.5 % from 2014)
Value of production 14,173,046 Euro (- 6 % from 2014)
EBITDA 1,494,971 Euro (- 2 % from 2014)
Net result (854,668) Euro
Shareholders ‘equity 11,307,301 Euro
Fixed assets 12,570,292 Euro

It should be noted that due to the partial splitting of the company at the end of the year 2014, both the photovoltaic plant in Belpasso and the shares in the foreign companies with their related turnover were lost.

Notwithstanding, the EBITDA has maintained the same levels from 2014. The result was affected by the provision to the reserve for possible loan losses of 1,500,000 Euro, agreed to face the eventuality of insolvency of the Russian client against who it has started legal action to claim for the credit at the court of Moscow.

In 2016 it is expected an increase of the turnover and a significant growth.

The shareholders have  also elected the social bodies for the  three-year period 2016-2018.

The general shareholders group is structured as it follows:

Eng. Claudio Civello  Chairman and Chief Executive Officer
Conveyor Maurizio Lembo  Managing director
Doc. Maurizio Toscano  Executive Director

The Board of Statutory Audience is made by:

Doc. Antonio Pogliese  Chairman
Doc. Salvatore Arcidiacono  Statutory Auditor
Doc. Giorgio Sangiorgio  Statutory Auditor
Law. Vincenzo Taranto  Alternate Auditor
Doc. Alessandro Micale  Alternate Auditor

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