POLTRONA FRAU GROUP Highlights
CONSOLIDATED FINANCIAL STATEMENTS


   Consolidated Income Statement


 

                                                                                                                                                                                                                                                                   
(thousands of Euro)  

I quarter 2013

I quarter 2012 (2)
Revenues58.74656.562
Costs for raw materials and consumables
(42.432)(44.865)
Personnel costs(11.779)(11.675)
EBITDA (1)4.5354.022
EBITDA %7,7%7,1%
Amortization, depreciation, provisions and impairment (1.514)1.443)
Operating Income3.0212.579
Operating Income %5,1%4,6%
Financial charges, net(1.601)(2.329)
Result before taxes1.420250

               
(1) EBITDA is represented by the operating result before amortization, depreciation, provisions and impairment. EBITDA thus  defined is not identified as an accounting measurement within the scope of the IFRS and therefore the determination criteria applied by the Poltrona Frau Group might not be homogeneous with that adopted by other companies and is therefore not comparable.

(2)  Figures at 31 March 2012 have been restated in the Quarterly Report in order to make them consistent and comparable with the ones reported in the current period. That has been necessary following the Lighting Division sale, and the adoption of the equity method for consolidating the JVs PF Emirates Interiors LLC and Casa Décor Private Ltd. undertaken to better represent the financial statements of Poltrona Frau Group.

  Consolidated Net Financial Position


 

                           
(Thousands of Euro)   at 31 March 2013at 31 December 2012at 31 March 2012(*)
Current payables to banks(38.205)(32.755)(30.364)
Current portion of medium/long term borrowings
(13.016)(13.082)(12.522)
Other financial liabilities(1.324)(1.360)(1.257)
Current payables(52.545)(47.197)(44.143)
Medium - long term financial borrowings(47.700)(46.263)(59.157)
Total debt, gross(100.245) (93.460) (103.300)
Cash and cash equivalents9.1209.06811.058
Other financial assets4.8085.3193.138
Net financial position(86.317)(79.073)(89.104)
              
 

(*) Figures at 31 March 2012 have been restated in the Quarterly Report in order to make them consistent and comparable with the ones reported in the current period. That has been necessary following the adoption of the equity method for consolidating the JVs PF Emirates Interiors LLC and Casa Décor Private Ltd. undertaken to better represent the financial statements of Poltrona Frau Group.

Last update: 16-05-2013