Financial results

FY 2018 consolidated results

Consolidated Income Statement Data
(Thousands of euro)	December 31, 2018	December 31, 2017
Total net sales	160,284	147,122
Gross profit	70,252	62,203
% on sales	43.8%	42.3%
Operating income	15,066	9,092
% on sales	9.4%	6.2%
EBITDA	26,279	18,315
% on sales	16.4%	12.4%
Net income (loss) from continued operations	(7,680)	(12,653)
% on sales	-4.8%	-8.6%
Income (loss) from discontinued operations	240,013	26,513
% on sales	149.7%	18.0%
Group net income	232,333	13,860
% on sales	145.0%	9.4%

Consolidated Balance Sheet Data
(Thousands of euro)	December 31, 2018	December 31, 2017
Group shareholders' equity	341,220	122,141
Net financial position	223,310	(16,517)

DOUBLE-DIGIT ORGANIC GROWTH IN REVENUES AND SIGNIFICANT IMPROVEMENT IN OPERATING INDICATORS

Consolidated revenues equal to €160.3 million compared to €147.1 million in FY 2017; net of the exchange rate effect, organic growth equal to +12.3%
Total revenues of the Group equal to €172.2 million, up by 7% compared to €161 million in FY 2017
Extraordinary costs for severance and write-offs equal to €19.2 million
Consolidated gross profit equal to €70.3 million (43.8% of revenues), up by 12.9% compared to €62.2 million (42,3% of revenues) in FY 2017
Consolidated operating income equal to €15.1 million, strongly increased (+65.7% compared to €9.1 million in FY 2017) despite severance costs of the Parent Company of €2.7 million and write-offs of €3.1 million
Consolidated EBITDA equal to €26.3 million (16.4% of revenues), significantly increased (+43.5%) compared to €18.3 million (12.4% of revenues) in FY 2017, despite severance costs of €2.7 million
Financial figures penalized by write-downs totaling €13.4 million
Net income from discontinued operations equal to €240 million (€26.5 million in FY 2017), related to the sale of the purification business
Consolidated net income equal to €223.3 million, strongly increased compared to €13.9 million in FY 2017
Net financial position positive and equal to €233.3 penalized by the devaluation of the loan granted to the joint venture Actuator Solutions
Proposed a dividend of €0.70 per ordinary share and of €0.86 per savings share
Consolidated revenues in the first two months of 2019 equal to €27.6 million, up by 11.5%compared to 2018