World News: 18:00 GMT Friday 14th September 2018. [EQS Group via SPi World News]
B&C Speakers SpA
- Consolidated revenues equal to Euro 28.01 million (an increase of 39.23% compared to the Euro 20.12 million for the same period of 2017);
- Consolidated EBITDA equal to Euro 5.84 million (an increase of 20.40% compared to the Euro 4.85 million for the same period of 2017);
- Group profit equal to Euro 3.61 million (14.37% up from the Euro 3.15 million for the same period of 2017);
- Group net financial position negative and equal to Euro 7.90 million (negative and equal to Euro 6.72 million at year-end 2017).
Bagno a Ripoli (prov. Florence), 14 September 2018 - The Board of Directors of B&C Speakers S.p.A., one of the foremost international players in the design, manufacture, distribution and marketing of professional electro-acoustic transducers, approved the Interim Report of the group for the first half of 2018 in accordance with IFRS international accounting standards. The half being analysed is the first one in which Eighteen Sound S.r.l. fully contributed to the economic and financial figures of the B&C Speakers Group. To better comprehend economic trends during the period, an indication of trends with the scope of consolidation held equal (B&C Speakers S.p.A. and its foreign subsidiaries) is provided at the end of this press release (see table on page 5).
During the period, thanks also the effects of the acquisition, the Group heavily increased turnover in all operating areas. In particular we note the significant growth in the European market (+33% with sales of Euro 12.4 million) and in the Latin American market (+95% with sales of Euro 2.6 million). Growth in North America and in the Asia-Pacific area was also very strong, with rates above 23% and 43% respectively.
Administrative and General
The Group's reclassified Income Statement schedule relative to the first half of 2018 is shown below, compared with the same period in 2017 (the schedule represents the situation of the B&C Speakers Group at the end of the first half of 2018, following the acquisition of Eighteen Sound S.r.l.):
For a better understanding of the economic trends, the figures for the first half of 2018 and the corresponding period in 2017 are provided below, with the same scope of consolidation net of the acquisition:
The available data, as at the date this document was prepared, suggests that 2018 will be a year of significant growth for the B&C Speakers Group, supported by the following elements:
- The first half was very positive for the Parent Company B&C Speakers and both order collection data and the number of projects already approved by existing customers and new issues suggests that 2018 will be a positive year. During April, very significant orders continued to be received for the Parent Company B&C Speakers S.p.A. Indeed, the flow of orders received during the first 8 months of 2018 was up by 17% with respect to the same period in 2017;
- At the same time, the positive signs from customers of Eighteen Sound and Sound&Vision are being confirmed. After the year largely began with uncertainty relative to the transfer of ownership, the market reacted positively and the new orders inflow has been good.
The B&C Speakers S.p.A. Financial Reporting Manager Francesco Spapperi confirms - in accordance with art. 154-bis, paragraph 2 of Italian Legislative Decree No. 58/1998, that the accounting disclosures contained in this press release are consistent with company's accounting documents, books and records.
B&C Speakers S.p.A.
B&C Speakers S.p.A.
Consolidated Statement of Financial Position as of June 30th 2018.
Consolidated Statement of Comprehensive Income for the first half of 2018
Document title: B&C Speakers 1H2018 financial results
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