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The Board of Directors approves June 30th, 2017 Interim Report

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Best Union Company S.p.A.: The Board of Directors approves June 30th, 2017 Interim Report

  • Consolidated Revenue Euro 31,012 million (Euro 28,353 million at June 30th, 2016)
  • Consolidated EBITDA Euro 3,387 million (Euro 3,389 million at June 30th, 2016)
  • Consolidated EBIT Euro 1,715 million (Euro 1,669 million at 30 June 2016)
  • Net Financial Position positive Euro 442 thousand (negative Euro 1,196 million at December 31st, 2016)

 Bologna, August 29th, 2017 – Best Union Company S.p.A. Board of Directors approved today the consolidated interim report as of June 30th, 2017.

At a consolidated level, the Group registered Revenue for Euro 31,012 million, increased by 9.38% compared to Euro 28,353 million at June 30th, 2016. The increase in revenue was mainly due to the positive performance from the Parent Company Best Union Company S.p.A. and the subsidiary Irec S.a.S..

Consolidated EBITDA in Q2 2017 was Euro 3,387 million (10.9% of revenues) with a decrease of Euro 2  thousand when compared to the same period of the 2016 (Euro 3,389 million 12% of revenues).

Consolidated EBIT in Q2 2017 was positive for Euro 1.715 million, compared to Euro 1.669 million in Q2 2016.

Consolidated Net Result in the first semester 2017, after tax for Euro 449 thousand was positive for Euro 1,190 million (Euro 1,083 million at June 30th, 2016).

The Group had a positive consolidated Net Financial Position as of June 30th, 2017 for Euro 442 thousand (it was negative for Euro 1,195 million at December 31st, 2016).

The positive trend of the new contracts awarded confirms the strategic decision made in terms of innovation and R&D activities on products offered to the market. Given the trend of the year 2016 and first semester 2017, it is also expected for the current year and for the future, a consolidation in the theme park and leisure sector as well as in the culture and entertainment sectors, both through the acquisition of the new clients and due to the award of the new national and international tenders, on which the Group is constantly engaged.

In addition there is the concrete interest of the Group to the word of “Live”. The constitution of Big Bang S.r.L., company destined to organize and manage the event “Vasco Modena Park”, the concert event designed to celebrate the forty years of the artist’s career  Vasco Rossi, the exclusive ticketing management for the new Renato Zero tour, “Zerovskij solo per amore” confirm the strategic direction of the Group.

During the first half of 2017, the Group continued to focus its activities mainly:

  • On consolidating and integrating the Group companies and new companies acquired;
  • On improving the management of orders and ongoing projects;
  • On commercial development aimed at acquiring new orders both on the domestic market and on the foreign markets where the Group operates;
  • On the implementation of new relationships and trade agreements for complementary services to the core business of the Group.

 Luca Montebugnoli, President and CEO of Best Union Company S.p.A. commented:

« In the first semester of 2017, the Group’s results improved compared with 2016, mainly due to the performance of the parent company and our subsidiary Irec. From marginality point of view, we achieved a result in absolute value in line compared to the previous year and we are already working on the perspective of a continuous improvement of marginality both in the sector and overall. The organization and the complete management of the “Vasco Modena Park” event have strongly involved the company structure. The result achieved and the public recognitionat all levels, have largely paid off the great efforts made. We consider entry into the “Live” sector as one of the characteristic elements of the evolution of our Group strategy, The Management is confident that the result of the second half will be consistent with the plans outlined by the board and the budget”. 

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In accordance with section 2, Article 154-bis of the consolidated Law on Finance (TUF), the Financial Reporting Manager Mr. Claudio Tinti, declares that the accounting information contained in this press release correspond to documentary records, ledgers and accounting entries.

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Find here attached the consolidated balance sheet and income statement as well as the reclassified Consolidated P&L.

The 2017 Interim Report, will be soon available to the public in due terms.

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This press release is available on corporate website www.bestunion.com

Best Union Company Spa, was established in 1999 in Bologna and listed at the Italian Stock Exchange in 2008. It is one of the main players in the design, production, sale and management of electronic ticketing and access control systems and the organization of hospitality and security services for public events. cultural and sport events, trade shows and theme and amusement parks. Best Union Company is among the few companies able to offer integrated hard and software systems and the services required to stage sports events, cultural initiatives, trade fairs, shows of various kinds and to run entertainment and theme parks.

For further information and inquiries:

Best Union Company S.p.A.

Investor Relations

Francesco Sponziello

+39 366 7556627

ir@bestunion.it