SOL S.p.A Board of Directors have announced consolidated first quarter sales of €152.7m – an increase of 4.2% compared to the €146.5m recorded in the same quarter last year.

These are the highlights specified in the First Quarter 2014 results approved earlier today by the Board of Directors of SOL S.p.A., a listed company on the Italian Stock Exchange that acts as a holding company to a multination group with more than 2,600 employees, involved in the area of technical gases and home-care assistance, operating in Europe and in India.

In a climate of light economic recovery in some European countries, but still stagnant in Italy, in the first quarter of 2014 Sol Group achieved a growth of 4.2% in sales volume compared with the 1Q 2013. The positive result is due not only to the growth of sales abroad, with an increase of 6.2%, but also to an improvement in Italy, where the growth was of 2.4%.

With reference to the two business of the group, the Technical Gases Division registered the same level of sales of the 1Q 2013, whereas the Home Care Division, in which the Group operates through VIVISOL, marked a growth of 9.0%.

EBITDA and EBIT were more than satisfactory and marked a growth of 6.5% and 12.4% respectively, compared with the 1Q 2013.

In the First Quarter 2014 the investments were equal to €27.0m (€20.1m in the same period 2013).

The net financial debt is €201.2m (€205.1m at 31/12/13).

There are no subsequent relevant events after March 31, 2014 to point out.

“We consider in a positive way the results achieved in the first quarter of 2014,” affirmed Marco Annoni, Vice-President of SOL S.p.A. “which confirm the capability of SOL group to act well in a very difficult economic situation.”

“In the year 2014,” concluded SOL Chairman Aldo Fumagalli Romario, “our target is to pursue the trend of growth of sales and to maintain the profitability of the group at a good level, continuing the investment program sustaining the development, the diversification and the innovation in order to increase the growth of the group in the next future.”