Financial results

1Q 2020 consolidated results

Consolidated Income Statement Data
(Thousands of euro)	March 31, 2020	March 31, 2019
Total net sales	49,285	43,099
Gross profit	20,358	18,188
% on sales	41.3%	42.2%
Operating income	6,841	4,640
% on sales	13.9%	10.8%
EBITDA	9,384	6,577
% on sales	19.0%	15.3%
Net income (loss) from continued operations	-5,074	3,178
% on sales	-10.3%	7.4%
Income (loss) from discontinued operations	0	0
% on sales	0.0%	0.0%
Group net income	-5,074	3,178
% on sales	-10.3%	7.4%

Consolidated Balance Sheet Data
(Thousands of euro)	March 31, 2020	December 31, 2019
Group shareholders' equity	250,495	252,530
Net financial position	102,798	115,316

ORGANIC GROWTH OF REVENUES (+12.2%)

LIMITED IMPACT OF COVID-19 CRISIS ON THE GROUP’S OPERATING RESULTS SO FAR

Consolidated revenues equal to €49.3 million, with an organic two-digit increase (+12.2%) compared to €43.1 million in 1Q 2019
Total revenues of the Group equal to €51.5 million compared to €46 million in 1Q 2019 (+12%)
Consolidated gross profit equal to €20.4 million compared to €18.2 million in 1Q 2019 (+11.9%)
Consolidated operating income equal to €6.8 million compared to €4.6 million in 1Q 2019 (+47.4%)
Consolidated EBITDA equal to €9.4 million (19% of consolidated revenues) compared to €6.6 million in 1Q 2019 (15.3% of consolidated revenues)
Consolidated net result negative and equal to -€5.1 million, due exclusively to the decrease in the fair value of the securities portfolio
Consolidated net financial position positive and equal to €102.8 million as at March 31, 2020