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27.04.2012

2011 Annual results

Boero Group: The Board of Directors held on March 16.th 2012 and today's Shareholders Meeting of the holding company, Boero Bartolomeo S.p.A., approved the 2011 financial statements. The annual results have been heavily influenced by the difficult economic situation that is affecting the countries in the Euro zone and, after the beginning of the year which showed some signs of recovery, in the second half of 2011 the actual situation has gradually deteriorated with a marked slowdown in production and demand. In particular the national economic context, in which the Group is mainly active, has been characterized by a stagnant domestic demand due to widespread economic uncertainty, the fragile climate of confidence among the sector, the problems arising from the SME’s credit situation and  the continuous increasing costs of main raw materials. The Group consolidated results reported revenues at 114  mln. euro (119,9 mln. euro in 2010); EBIT was breakeven whereas the net income was at  -1,7 mln. euro. Net financial position showed –46,8 mln. euro on December 31.st 2011 (–53,3 mln euro on September 30.th 2011 and –39,5 mln euro on December 31.st 2010). For further info (only Italian): www.boerobartolomeo.it