The CAD IT Board of Directors approves the Interim Management Report at 31st March 2011

  • 13 May 2011, 17:00

The Board of Directors of CAD IT S.p.A. (www.cadit.it), leader in the Italian financial software market and quoted in the STAR segment of Borsa Italiana, today approved the Interim Management Report at 31st March 2011.

The main results in regard to the Consolidated Profit and Loss account at 31st March 2011 are as follows:

  • Value of Production of Euro 13.4 million compared to Euro 13.1 million in the first quarter of 2010. The internal work capitalized under fixed assets went from Euro 0.8 million in the first quarter of 2010 to Euro 1 million in the first quarter of the current year;
  • Gross Operational Result (EBITDA) of Euro 1.6 million, corresponding to 11.7% of the Value of Production, compared to Euro 1.3 million in the first quarter of 2010 (10.0% of the Value of Production);
  • Operational Result (EBIT) of Euro 0.8 million corresponding to 6.0% of the Value of Production, compared to Euro 0.4 million in the first quarter of 2010 (2.8% of the Value of Production);
  • Pre-tax result of Euro 1 million (7.5% of the Value of Production), compared to the Euro 0.5 million in the first quarter of 2010 (4.0% of the Value of Production).

The Consolidated net short-Term Financial Position at 31st March 2011 is in credit by Euro 4 million compared to Euro 4.2 million registered at 31st December 2010.

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The manager responsible for preparing the company’s financial reports, Maria Rosa Mazzi, 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.

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The CAD IT S.p.A. Board of Directors have positively assessed the subsistence of the necessary requirements for its independent directors as set down by the Corporate Governance Code of the Borsa Italiana S.p.A..

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