Consolidated Sales € 596.3m (+2.3% vs €583.0m in 2012), EBITDA €131.8m (22.1% on sales), EBIT €53.5m (9.0% on sales), Consolidated Net Profit of €21.6m (€29.0m in 2012).
These are highlights of the consolidated figures approved today by the Board of Directors of SOL S.p.A., a company listed on the Italian Stock Exchange that acts as holding company to a multinational group, with more than 2,600 employees, involved in the area of technical gases and home-care assistance, operating in Europe and in India.
At the upcoming shareholders’ meeting, called for the 12th of May in Monza, the company’s Board of Directors will propose distribution of a dividend of €0.10 per ordinary share (equal to 2012), to be paid since the 22nd of May 2014.
In a climate of economic recession in many European countries especially during the first nine months of year 2013, Sol Group achieved a growth of 2.3% in sales volume compared to the prior year.
In comparison with 2012, the sales were stable in Italy (-0.3%) but increased abroad (+5.3%), with a turnover that represents 48.2% of the total. With reference to the sales volumes of the two business of the group, the technical gases division showed a slight decrease of 0.6%, despite the general fall-off of the industry in almost all Europe, whereas the home care division, where the group operates through VIVISOL, marked a growth of 6.1%.
The level of EBITDA was satisfactory, although the difficult economic context.
EBIT was €53.5m, equal to 9.0% on sales, in small reduction vs 2012, due to the increase of provisions charges for €1.1m and of depreciation costs for €1.5 m.
The Consolidated Net Profit was €21.6m, with a reduction of €7.4m compared to the prior year, mostly due to non-recurrent fiscal charges for an amount of €5.6m.
The capital expenditures of the group were €92.0m (CAPEX 15.4%) and the operating consolidated cash flow amounted to €92.6m.
The total Net Debt was €205.1m, increased by €9.8m vs 12/31/2012, due to the realized investments.
The Net Debt / Equity ratio was equal to 51.8%.
There are no subsequent relevant events after the 31st of December 2013 to point out.
“We consider positive the results achieved in 2013” affirmed Marco Annoni, Vice-President of SOL S.p.A, “which confirm the solidness of SOL Group to operate and develop in a very complex economic context”.
“In the year 2014, in a difficult economic framework,“ concluded Aldo Fumagalli Romario, President of SOL S.p.A, “we’ll continue to pursue the growth and the investments program sustaining the development, the diversification and the innovation and trying to increase the profitability of the group.”