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Press release

The Board of Directors approves the consolidated financial results as of 30 September 2020

CERVED GROUP: THE BOARD OF DIRECTORS APPROVES THE CONSOLIDATED FINANCIAL RESULTS AS OF 30 SEPTEMBER 2020

 

  • Revenues1: Euro 351.8 million, -2.6% compared to 361.1 million in the first nine months of 2019;

 

  • Adjusted EBITDA[1],2: Euro 143.9 million, -10.5% compared to 160.8 million in the first nine months of 2019, with a margin on revenues of 41.1%;

 

  • Adjusted Net Income1,3: Euro 68.0 million, -9.4% compared to 74.9 million in the first nine months of 2019;

 

  • Operating Cash Flow: Euro 102.4 million, -16.1% compared to 122.0 million in the first nine months of 2019;

 

  • Consolidated Net Financial Position: Euro 593.6 million at September 30, 2020, equating to 2.7x last twelve months Adjusted EBITDA
 

[1] Revenues, Adjusted EBITDA and Adjusted Net Income include €1.5m of capital gain deriving from the sale of the Turin real estate property;

2 Adjusted EBITDA excludes the impact of the Performance Share Plan with reference to the plan 2019-2021 and plan 2022-2024;

3 Adjusted Net Income excludes non-recurring income and expenses, amortisation of capitalized financing fees, amortisation of the Purchase Price Allocation and non-recurring income taxes

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