CPL CONCORDIA’s half-year financial statements, profit and employment up

The first half of 2018 recorded a net profit of €1.8 million, while the net financial position recorded a positive decrease of €34 million.

The multi-year backlog of works rises to €700 million: 220 new employees are expected to be hired by the end of the year.

Concordia sulla Secchia (MO), 2 October 2018 – The top management of CPL CONCORDIA has recently convened a meeting with the members to analyze the performance of the cooperative's half-year financial statements as at 30 June 2018.

The profit marks a positive figure of approximately 1.8 million Euros, net of extraordinary transactions, while the Net Financial Position falls below 100 million (-34 million compared to 30/06/2017).

"The result of the half-year results rewards the significant efforts that the entire structure is making in the last few years.Improved operating margins, acting on reducing costs and increasing productivity", Stresses the General Manager of CPL Pierluigi Capelli. "The numbers, also projected at the end of the year, confirm the expectations of outperforming the forecasts of the Business Plan".

Compared to the values as at 30 June 2017, the balance sheet data for the period 1/01/2018-30/06/2018 recorded an increase of €12 million in the Value of Production, amounting to €117.6 million, as well as revenues, which rose to €114 million (+16 compared to 30/06/2017), highlighting the improvement in both EBITDA, which rose to €11 million from €8.5 million twelve months earlier, and EBIT to €3.6 million compared to €2.9 million as of 30/06/2017.

"The positive trend in economic and financial data makes us confident about the path we have taken," said CPL Chairman Paolo Barbieri. "To consolidate the recovery We focus on our core activities, without neglecting emerging businesses such as LNG - Liquefied Natural Gas - and related activities the integrated water cycle". "We are strongly committed to the technological and IT development of business processes: this is why In particular, we are looking for young people, engineers and technicians, who take up the challenge of the energy future in the logic of Industry 4.0".

The multi-year portfolio of works has increased to over 700 million euros: among the recently acquired contracts, the most important of the the maintenance of the energy systems of the Rome Convention Center complex "La Nuvola" – better known as "the cloud of Fuksas" - which is located in the EUR district of Rome and is owned by the Ministry of Economy and Finance and the Municipality of Rome.

The new orders, in particular for activities related to gas and water networks, envisage the hiring of 220 new employees by December 2018.