CAD IT: the Board of Directors approves the six-monthly results at 30th June 2016

The Board of Directors of CAD IT S.p.A. (www.caditgroup.com), leader in the Italian financial software market and listed in the STAR segment of Borsa Italiana, met today to approve the Half-Yearly Financial Report at 30th June 2016.

The main Consolidated Profit and Loss Account results relating to the first half of 2016 are as follows:

• Production Value of Euro 28.9 million (Euro 29.6 million in the first half of 2015). During the six months in question the increases in internal work capitalized for the development of new products (asset increases due to internal work) stands to Euro 2.5 million compared to Euro 2.0 million in the same period last year;
• Gross Operational Result (EBITDA) of Euro 3.5 million (12.1% of Production Value), compared to Euro 3.1 million in the first six months of 2015, corresponding to 10.4% of Production Value;
• Operational Result (EBIT) of Euro 0.6 million (1.9% of Production Value) compared to Euro 0.4 million in the first six months of 2015 (1.4% of Production Value). The amortization of intangible assets went from Euro 2.3 million in the first six months of 2015 to Euro 2.6 million in the first six months of 2016. The increase over the previous period was due to the beginning of the amortization schedules of software procedures developed in previous years, which have become available for sale;
• Result of the period, net of tax and of third party share, attributable to owners of the parent of Euro 0.5 million (1.8% of Production Value) after the registration of taxes for Euro 0.3 million, compared to a result of Euro 0.3 million (0.9% of Production Value) in the same period of the previous financial year.

The Group’s Consolidated Net Financial Position at 30th June 2016 is in credit by Euro 1.7 million compared to Euro 2.5 million registered at 31st December 2015 and to Euro 7.2 million registered at 30th June 2015.

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The Half-Yearly Financial Report as of June 30th 2016, together with the certification in compliance with art. 154 bis, paragraph 5, of Legislative Decree 58/98 (Consolidated Finance Act) and the report of Auditing Firm, will be made available to the public at CAD IT S.p.A. registered office, at Borsa Italiana S.p.A., in the Investor Relations section on the company’s internet website www.caditgroup.com and on the “NIS-Storage” authorized storage mechanism for regulated information at www.emarketstorage.com within the deadlines provided for by law. Written notification of such publication will be given.

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The Manager charged with preparing the company’s financial reports, Michele Miazzi, declares, pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the document results, books and accounting records.