Accueil > Nouvelles > Communiqués de presse > The Board of Directors approves the Draft Financial Statements as of December 31th, 2017

The Board of Directors approves the Draft Financial Statements as of December 31th, 2017

Best Union Company S.p.A.: The Board of Directors approves the Draft Financial Statements as of December 31th, 2017 and Group Consolidated Financial Statements as of December 31th 2017:

 

  • Consolidated Revenue Euro 80.821 million (Euro 56.750 million in 2016)
  • Consolidated EBITDA Euro 8.726 million (Euro 7.121 million in 2016)
  • Consolidated EBIT Euro 4.018 million (Euro 2.949 million in 2016)
  • Group Net Income Euro 2.799 million (Euro 2.383 million in 2016)
  • Net Financial Position negative Euro 114 million (negative Euro 1.195 million as at December 31st, 2016)

 

Bologna, April 26th, 2018 – The Best Union Company S.p.A. Board of Directors, meeting today, has reviewed and approved the draft Financial Statements of the Company as of December 31th, 2017 as well as the Group Consolidated Financial Statements as at December 31th, 2017.

In 2017 the Group achieved a positive result in term of Revenues, EBITDA, EBIT. The Group achieved a positive performance in term of Net income for Euro 2.799 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 1.195 million in 2016 to Euro 114 thousand in 2017.

At a consolidated level the Group registered Revenue for Euro 80.821 million increasing to 42,42% compared to Euro 56.750 million in 2016, recording a new historical record in Revenue.

 

The Group’s Ebitda in 2017 showed a result of Euro 8.726 million (10,8% of the consolidated revenues), with an increase of Euro 1.605 compared to the previous financial period (Euro 7.121 million, 12,55% on the consolidated revenues). Best Union management is satisfied with the marginality level achieved in 2017 and the entire structure is constantly committed to improving the efficiency of internal procedures and processes.

The trend of the Revenues in 2017 financial period was influenced by:

  • The positive and significant performance of the parent company Best Union Company S.p.A that has produced significant growth in all the relevant business markets;
  • The revenues from the subsidiary Big Bang deriving from the organization of the epic event “Vasco Modena Park 01.07.17” held on July 1st 2017 in Parco Enzo Ferrari in Modena that celebrated, a single date event to celebrate the 40 years of the artistic life of the Vasco Rossi;
  • The revenues from the acquisition of 100% Bookingshow Ticketing Srl share, whose revenues have been consolidated within the group for 5 months;

 

  • The increase of the performance of the subsidiary HB Communication;
  • The steady increase of the revenues in the foreign markets, with particular reference at French subsidiary Irec SaS, that had a growth in term of turnover due to the acquisition of new important long term contracts;
  • The revenues from the Enta Australasia business, company licensee of the Enta Software, owned by Best Union UK, purchased in October 2016, whose revenues in 2017 have been consolidated for a full year inside the Group.

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

  • “Fair Exhibition » Segment: recording a substantially stable trend of turnover compared to the previous financial period, from Euro 8.5 million in 2016 to Euro 8.2 million in 2017. The Group therefore confirms the level of turnover on the trade fair world customers that continues to represent one of the main markets at a national level in the Group. In general, the segment registered a positive trend in margins, with an EBITDA for 17.1%;
  • “Leisure & Entertainment and Culture” Segment: we registered a good performance in terms of revenues, which increased from Euro 42.5 million in 2016 to Euro 64.5 million in 2017. The increase is due mainly to the performance of Big Bang Srl, subsidiary of Best Union Group, active since 2017, and also to a general good performance in this market segment. The EBITDA margin is 8.1%;
  • “Sport” Segment recorded a strong increase of the revenues compared to the previous year, from Euro 5.7 million in 2016 to Euro 8.1 million in 2017. This increase is due to the positive performance from the existing clients and from the acquisition of new important projects arriving also from Bookingshow Ticketing Srl acquisition. The marginality of this segment is 13.2%with a strong increase compared 2016 (7.1%).

 

2017 Business overview

In 2017 the Group activity was mainly characterized by:

  • Strategic development of the national and international markets;
  • Managing the consolidation and integration of the companies and business unit built/acquired during the year and in previous years;
  • Simplification of the corporate structure, and improvement of the organization structure, with a particular focus on the closing of the nonstrategic or inactive companies, the implementation of standard internal procedures and of the new organizational model;
  • Development of commercial activities for the acquisition of new contracts including through participation in national and international public tenders races, for the maintenance of customers in the portfolio and the launch of new and important contracts;
  • Implementation of commercial partnerships with the aim to consolidate and develop the customers base, increasing the products and contents offered and through the integration of complementary services to the core activities in long term point of view;
  • Deep analysis of the domestic and international markets in order to evaluate potential acquisitions of target companies operating in complementary segments to those in which the Group operates and to achieve business agreements with other complementary business;
  • Improvement in profitability of each projects and improvement of the efficiency and the structure in general;
  • Actions aimed at developing the project B2C the remain one of the “Kdriver” of the Group strategic growth;

Download the whole Press Release in pdf