Financial results

2019 consolidated results

Consolidated Income Statement Data
(Thousands of euro)	2019	2018
Total net sales	182,352	160,284
Gross profit	78,373	70,252
% on sales	43.0%	43.8%
Operating income	26,772	15,066
% on sales	14.7%	9.4%
EBITDA	36,502	26,279
% on sales	20.0%	16.4%
Net income (loss) from continued operations	19,685	-7,680
% on sales	10.8%	-4.8%
Income (loss) from discontinued operations	152	240,013
% on sales	0.1%	149.7%
Group net income	19,837	232,333
% on sales	10.9%	145.0%

Consolidated Balance Sheet Data
(Thousands of euro)	December 31, 2019	December 31, 2018
Group shareholders' equity	252,530	341,220
Net financial position	115,316	223,310

STRONG GROWTH IN REVENUES AND SIGNIFICANT IMPROVEMENT IN ALL THE ECONOMIC AND FINANCIAL INDICATORS

Consolidated revenues equal to €182.4 million compared to €160.3 million in FY 2018; net of the exchange rate effect (+4.3%), organic growth equal to 9.5%
Total revenues of the Group equal to €194 million, up by 12.7% compared to €172.2 million in FY 2018
Consolidated gross profit equal to €78.4 million (43% of revenues), up by 11.6% compared to €70.3 million (43.8% of revenues) in FY 2018
Consolidated operating income equal to €26.8 million, strongly increased (+77.7%) compared to €15.1 million in FY 2018
Consolidated EBITDA equal to €36.5 million (20% of revenues), significantly increased (+38.9%) compared to €26.3 million (16.4% of revenues) in FY 2018
Financial management penalized by write-downs totaling €1.6 million (non-recurring write-downs equal to €13.4 million in FY 2018)
Consolidated net income from continued operations equal to €19.7 million (-€7.7 million in FY 2018)
Net financial position positive and equal to €115.3 million, improved when compared to €111.8 million at September 30, 2019
Proposed a dividend of €0.78 per ordinary share and of €0.80 per savings share
Consolidated revenues equal to €32.4 million in the first two months of 2020, up by 17.3% compared to 2019
The BoD resolved to donate €0.5 million to research institutes involved in the front line against coronavirus, as well as to the Italian Civil Protection
All Italian manufacturing plants are in operation, applying the health procedures currently in force