Financial results

First Quarter 2018 consolidated results

Consolidated Income Statement Data
(Thousands of euro)	March 31, 2018	March 31, 2017
Total net sales	63,236	58,668
Gross profit	26,535	24,889
% on sales	42.0%	42.4%
Operating income	11,376	9,474
% on sales	18.0%	16.1%
EBITDA	13,468	11,800
% on sales	21.3%	20.1%
Group net income	8,883	5,743
% on sales	14.0%	9.8%

Consolidated Balance Sheet Data
(Thousands of euro)	March 31, 2018	December 31, 2017
Group shareholders' equity	128,333	122,141
Net financial position	(16,699)	(17,730)

INCREASE IN REVENUES BY 7.8%, DESPITE THE NEGATIVE EXCHANGE RATE EFFECT (-13.4%) AND SIGNIFICANT IMPROVEMENT OF THE OPERATING INDICATORS

· Consolidated revenues equal to €63.2 million, organically up by 21.2% compared to €58.7 million in 1Q 2017

· Total revenues of the Group equal to €66.2 million, up by 6.6% compared to €62.1 million in 1Q 2017

· Consolidated gross profit equal to €26.5 million, up by 6.6% compared to €24.9 million in 1Q 2017

· Consolidated operating income equal to €11.4 million, increased by 20.1% compared to €9.5 million in 1Q 2017

· Consolidated EBITDA equal to €13.5 million (21.3%) compared to €11.8 million (20.1%) in 1Q 2017

· Consolidated net income equal to €8.9 million, significantly increased (+54.7%) when compared to €5.7 million in 1Q 2017

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