Fourth quarter results February 14, 2008
Consolidated I ncome Statement: 4 th quarter 4 t h 4 t h quart er quart er 2 0 0 7 vs 2 0 0 6 2 0 0 7 2 0 0 6 Thousa nds of Euro Turnover 32.307 36.550 13,1% 1 0 0 ,0 % 1 0 0 ,0 % Other operating revenue 683 511 -25,2% 2 ,1 % 1 ,4 % Tot al revenue 3 2 .9 9 0 3 7 .0 6 1 12,3% 1 0 2 ,1 % 1 0 1 ,4 % Costs for raw m aterial and consum ables (13.536) (14.537) 7,4% - 4 1 ,9 % - 3 9 ,8 % Costs for services (7.922) (9.210) 16,3% - 2 4 ,5 % - 2 5 ,2 % Personnel expenses (8.056) (8.602) 6,8% - 2 4 ,9 % - 2 3 ,5 % Other operating expenses (99) (459) 363,6% - 0 ,3 % - 1 ,3 % Result of associated com panies at Net Equity 68 33 -51,5% 0 ,2 % 0 ,1 % Gross Opera t ing Result ( EBI TD A) 3 .4 4 5 4 .2 8 6 24,4% 1 0 ,7 % 1 1 ,7 % Depreciation & Am ortisation (1.009) (1.397) 38,5% - 3 ,1 % - 3 ,8 % Provisions and w rite-dow ns (64) (153) 139,1% - 0 ,2 % - 0 ,4 % Operat ing result 2 .3 7 2 2 .7 3 6 15,3% 7 ,3 % 7 ,5 % Financial incom e and expenses (309) (674) 118,1% - 1 ,0 % - 1 ,8 % Exchange rate earnings and losses (270) (441) 63,3% - 0 ,8 % - 1 ,2 % Result before t a x 1 .7 9 3 1 .6 2 1 -9,6% 5 ,5 % 4 ,4 % – 2 –
Consolidated Income Statement : 31 st December 3 1 Dec 3 1 Dec 2 0 0 7 vs 2 0 0 6 2 0 0 7 2 0 0 6 Thousands of Euro Turnover 107.103 145.638 36,0% 1 0 0 ,0 % 1 0 0 ,0 % Other operating revenue 1.184 2.133 80,2% 1 ,1 % 1 ,5 % Total revenue 1 0 8 .2 8 7 1 4 7 .7 7 1 36,5% 1 0 1 ,1 % 1 0 1 ,5 % Costs for raw m aterial and consum ables (42.043) (57.755) 37,4% - 3 9 ,3 % - 3 9 ,7 % Costs for services (26.977) (34.756) 28,8% - 2 5 ,2 % - 2 3 ,9 % Personnel expenses (25.780) (36.451) 41,4% - 2 4 ,1 % - 2 5 ,0 % Other operating expenses (403) (1.092) 171,0% - 0 ,4 % - 0 ,7 % Result of associated com panies at Net Equity 156 122 -21,8% 0 ,1 % 0 ,1 % Gross Operating Result ( EBI TDA) 1 3 .2 4 0 1 7 .8 3 9 34,7% 1 2 ,4 % 1 2 ,2 % Depreciation & Am ortisation (3.384) (4.890) 44,5% - 3 ,2 % - 3 ,4 % Provisions and w rite-dow ns (188) (378) 101,1% - 0 ,2 % - 0 ,3 % Operating result 9 .6 6 8 1 2 .5 7 1 30,0% 9 ,0 % 8 ,6 % Financial incom e and expenses (737) (1.713) 132,4% - 0 ,7 % - 1 ,2 % Exchange rate earnings and losses (782) (816) 4,3% - 0 ,7 % - 0 ,6 % Result before tax 8 .1 4 9 1 0 .0 4 2 23,2% 7 ,6 % 6 ,9 % – 3 –
Net sales breakdown: 4 th quarter Net Sales – Geographic breakdown (4 th quarter 2006 – 4 th quarter 2007; €/ Mln) INCREASE: 13,1% -8,4% 2.625 -40,1% 2.015 2.865 3.362 + 22,4% 31.910 26.080 4th quarter 4th quarter 2006 2007 E UROP A NORTH A ME RIC A RE S T OF THE W ORLD – 4 –
Net sales breakdown 31 December 2007 Net Sales – Geographic breakdown (31 Dec 2006 – 31 Dec 2007; €/ Mln) INCREASE: 36,0% 12.931 + 58,3% -19,6% 12.399 8.171 15.427 + 44,1% 120.308 83.505 31 dec 2006 31 dec 2007 EUROPA NORTH AMERICA REST OF THE WORLD (1) Bolzoni Group stand alone – 5 –
Net Financial Position The negative balance of the net financial position has been increased from 18,3 million Euro at 31.12.2006 to 25,9 million Euro at the end of December 2007. This increase is to support the growth of the business. 31.12.2006 31.12.2007 Thousands of Euro Cash and cash equivalent 4.473 3.061 Current portion of long term debts (15.313) (14.367) Net financial position - short term ( 10.840) ( 11.306) Financial assets held to maturity 1.425 60 Non current portion of long term debts (8.917) (14.690) Net financial position - M/ L term ( 7.492) ( 14.630) Net financial position ( 18.332) ( 25.936) – 6 –
Shareholders structure & share performance Shareholders at 13/02/2008 (%) 4,94% 2,00% 3,39% 3,14% 50,40% 32,55% 3,58% Penta Holding (* ) Tamburi Inv. Market Banca Intesa K.P. Staack Objectif Small Caps Euro (Lazard) F idelity International • The share price on 13th February 2008 was € 3,125 (corresponding to a market cap of 80,7 €/mln), with a variation from 1st January 2008 by -18,41%; the maximum share price has been € 5,88 (on 23rd Apr 2007), the minimum € 2,9375 (on 28th January 2008). (*) Shareholders are: Emilio Bolzoni, Franco Bolzoni, PierLuigi Magnelli, Luigi Pisani, Roberto Scotti – 7 –
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