Financial results

1H 2020 consolidated results

Consolidated Income Statement Data
(Thousands of euro)	1^st Half, 2020	1^st Half, 2019
Total net sales	89,099	88,487
Gross profit	38,223	37,820
% on sales	42.9%	42.7%
Operating income	11,143	13,412
% on sales	12.5%	15.2%
EBITDA	16,473	17,952
% on sales	18.5%	20.3%
Net income (loss) from continued operations	438	8,964
% on sales	0.5%	10.1%
Income (loss) from discontinued operations	0	176
% on sales	0.0%	0.2%
Group net income	438	9,140
% on sales	0.5%	10.3%

Consolidated Balance Sheet Data
(Thousands of euro)	June 30, 2020	December 31, 2019
Group shareholders' equity	243,988	252,530
Net financial position	95,644	115,316

STABLE FIRST HALF YEAR RESULTS, DESPITE THE EXPECTED DECREASE IN 2Q, MAINLY DUE TO COVID-19

NET CONSOLIDATED REVENUES IN THE FIRST HALF OF THE YEAR IN LINE WITH THE PREVIOUS YEAR AND STABILITY IN ALL THE OPERATING INDICATORS

Consolidated revenues equal to €89.1 million, compared to €88.5 million in 1H 2019 (+0.7%)
Total revenues of the Group equal to €93.5 million, substantially stable compared to €94.2 million in 1H 2019 (-0.8%)
Consolidated gross profit equal to €38.2 million (42.9% of revenues), compared to €37.8 million (42.7% of revenues) in 1H 2019
Consolidated operating income equal to €11.1 million (compared to €13.4 million in 1H 2019), including Covid-19-related extraordinary costs equal to about €0.7 million
Consolidated EBITDA equal to €16.5 million (18.5% of revenues), compared to €18 million (20.3% of revenues) in 1H 2019
Consolidated net income equal to €0.4 million (compared to €9.1 million in 1H 2019), penalized by the reduction in the fair value of the securities portfolio
Consolidated net financial position positive and equal to €95.6 million as at June 30, 2020