Financial results

CONSOLIDATED RESULTS AS AT MARCH 31, 2017

Consolidated Income Statement Data
(Thousands of euro)	March 31, 2017	March 31, 2016
Total net sales	58,668	45,662
Gross profit	24,889	20,047
% on sales	42.4%	43.9%
Operating income	9,547	6,515
% on sales	16.3%	14.3%
EBITDA	11,800	8,544
% on sales	20.1%	18.7%
Group net income	5,796	3,037
% on sales	9.9%	6.7%

Consolidated Balance Sheet Data
(Thousands of euro)	March 31, 2017	Decemeber 31, 2016
Group shareholders' equity	139,302	134,831
Net financial position	-25,215	-33,776

INCREASE IN REVENUES, SIGNIFICANT IMPROVEMENT OF THE OPERATING INDICATORS AND OF THE NET FINANCIAL POSITION

Consolidated revenues equal to €58.7 million, up by 28.5% compared to €45.7 million in Q1 2016
Total revenues of the Group equal to €62.1 million, up by 29.6% compared to €47.9 million in Q1 2016
Consolidated gross profit equal to €24.9 million, up by 24.2% compared to €20 million in Q1 2016
Consolidated operating income equal to €9.5 million, significantly increased (+46.5%) compared to €6.5 million in Q1 2016
Consolidated EBITDA equal to €11.8 million (or 20.1%) compared to €8.5 million (or 18.7%) in Q1 2016
Adjusted EBITDA equal to €12 million (or 20.4% of consolidated revenues)
Consolidated net income equal to €5.8 million, almost doubled when compared to €3 million in Q1 2016
Net financial position significantly improved (-€25.2 million compared to -€33.8 million at the end of 2016)