Financial results

9M 2019 consolidated results

Consolidated Income Statement Data
(Thousands of euro)	9M 2019	9M 2018
Total net sales	137,451	117,780
Gross profit	60,543	51,498
% on sales	44.0%	43.7%
Operating income	22,890	13,544
% on sales	16.7%	11.5%
EBITDA	29,880	19,364
% on sales	21.7%	16.4%
Net income (loss) from continued operations	17,721	5,654
% on sales	12.9%	4.8%
Income (loss) from discontinued operations	142	239,252
% on sales	0.1%	203.1%
Group net income	17,863	244,906
% on sales	13.0%	207.9%

Consolidated Balance Sheet Data
(Thousands of euro)	September 30, 2019	December 31, 2018
Group shareholders' equity	254,645	341,220
Net financial position	111,846	223,310

DOUBLE-DIGIT INCREASE IN REVENUES COMPARED TO 3Q 2018 AND SIGNIFICANT IMPROVEMENT OF THE ECONOMIC AND FINANCIAL INDICATORS

· Consolidated revenues equal to €49 million, up by 16.4% compared to €42.1 million in 3Q 2018. Net of the positive exchange rate effect (+3.7%), two-digit organic growth (+12.7%)

· Total revenues of the Group equal to €52.2 million, up by 15.6% compared to €45.2 million in 3Q 2018

· Consolidated gross profit equal to €22.7 million (46.4% of revenues) up by 19.5% compared to €19 million (45.2% of revenues) in 3Q 2018

· Consolidated operating income equal to €9.5 million, significantly increased (+67.4%) compared to €5.7 million in 3Q 2018

· Consolidated EBITDA equal to €11.9 million (24.4% of revenues) compared to €7.7 million (18.2% of revenues) in 3Q 2018

· Consolidated net income equal to €8.7 million, more than tripled compared to €2.3 million in 3Q 2018

· Consolidated net financial position positive and equal to €111.8 million as at September 30, 2019, improved when compared to €105 million as at June 30, 2019