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The Board of Directors approves the Draft and Group Consolidated Financial Statements as of December 31st 2016

 

  • Consolidated Revenue Euro 56,750 million (Euro 60,360 million in 2015)
  • Consolidated EBITDA Euro 7,121 million (Euro 9,295 million in 2015)
  • Consolidated EBIT Euro 2,949 million (Euro 4,189 million in 2015)
  • Net Financial Position negative Euro 1,195 million (negative Euro 4,809 million as at December 31st, 2015)

 

Bologna, March 30th, 2017 – The Best Union Company S.p.A. Board of Directors, meeting today, have reviewed and approved the draft Financial Statements of the Company as of December 31st, 2016 as well as the Group Consolidated Financial Statements as at December 31st, 2016.

In 2016 the Group achieved a positive result in term of Revenues, EBITDA ,EBIT and Net Income. The Group achieved a positive performance in term of Net income for Euro 2.383 million. From a Financial point of view, the Group recorded a substantial decrease of the net financial debt, with an improvement of the negative Net Financial Position  from Euro 4,809 million to Euro 1,195 in 2016.

At a consolidated level, in 2016, the Group registered Revenue for Euro 56,750 million.  A decrease of 5.98% compared to Euro 60,360 million in 2015. The decrease in revenue was mainly due to the ending of  short term projects, including the most important Expo 2015 and other related projects. The adjusted EBITDA showed a result of Euro 7,121 million (12.5% of Revenues) compared to Euro 9,295 million in 2015 (15.4% of Revenues).

The increase in Revenues in 2016 financial period was influenced by:

  • The positive and significant performance of the parent company Best Union Company S.p.A that, net of revenues from some extraordinary orders related 2015, has produced significant growth;
  • The revenues deriving from the acquisition of the ticketing business unit Zucchetti Regulus, consolidated in Best Union Company S.p.A. for 5 months;
  • The increase of the activity of the subsidiary Hb Communication, growing at revenues level compared to 2015;
  • The steady increase of the revenues in the foreign markets, with particular reference at Best Union Usa and Irec, that had a growth in term of turnover due to the acquisition of new long term contracts;
  • The revenues from the Enta Australia business, company licensee of the Enta Software, owned by Best Union Uk, purchased in October 2016, whose revenues have been consolidated within the group for 3 months;

As for the breakdown of sales by business segments, the following is to be noted:

  • “Fair Exhibition” Segment: turnover decreased if compared to the previous financial period, from Euro 14.9 million in 2015 to Euro 8.5 million in 2016. It was due mainly to the end of the Expo Milano 2015 project. In general, the segment registered a positive trend in margins, with an EBITDA for 7.2%;
  • “Leisure & Entertainment and Culture” Segment: the Group registered a good performance in terms of revenues, which increased from Euro 40.2 million in 2015 to Euro 42.5 million in 2016. The EBITDA margin is 10.8%;
  • “Sport” Segment recorded an increase of the revenues compared to the previous year, from Euro 5.2 million in 2015 to Euro 5.7 million in 2016. The marginality of this segment is 7.1%.

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