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1 August 2019 at 12:41
All economic indicators have improved(*):
Pre-tax profit of €70.2
million (64.2 in the first half of
Today, the Board of Directors of Reply S.p.A. [MTA, STAR: REY] approved the results as at 30 June 2019.
Since the start of the year, the Group has recorded a consolidated turnover of €573.7 million, which is an increase of 15.2% compared to the same period in 2018.
All indicators are positive for the period. In the first half of 2019, consolidated EBITDA was €85.7 million, compared to the €68.3 million recorded in 2018, and corresponds to 14.9% of turnover. Consolidated EBITDA excluding the effects of the application of IFRS 16 would have been €73.6 million.
EBIT from January to June was €67.6 million (€62.1 million in 2018), corresponding to 11.8% of turnover. EBIT excluding the effects of the application of IFRS 16 would have been €67.0 million.
Pre-tax profit from January to June 2019 was €70.2 million (€64.2 million in 2018), corresponding to 12.2% of turnover. The value excluding the effects of the application of IFRS 16 would have been equal to €70.7 million.
For the second quarter of the year, the Group’s performance is equally positive, with consolidated turnover for the period of €290.1 million, which is an increase of 11.9% compared to 2018.
EBITDA from April to June 2019 was equal to €43.3 million (excluding the effects of the application of IFRS 16, this would have been equal to €37.1 million), with an EBIT of €34.0 million (excluding the effects of the application of IFRS 16, this would have been equal to €33.7 million) and pre-tax profit of €36.0 million (excluding the effects of the application of IFRS 16, this would have been equal to €36.3 million).
As at 30 June 2019, the Group’s net financial position is positive at €18.3 million (€101.1 million excluding the effects of the application of IFRS 16). The net financial position as at 31 March 2019 was positive at €50.0 million (€134.3 million excluding the effects of the application of IFRS 16).
“In 2019 Reply achieved very positive results, both in terms of turnover and margins.” said Reply Chairman Mario Rizzante following the Board of Directors meeting. “The first six months of the year have been marked by a huge number of projects focused on our core offering: cloud, IoT and connected products, data platforms and digital experience.”
Mario Rizzante continued “Over the course of those months, we saw a strong drive from new applications linked to the use of artificial intelligence and automation using robotics, specifically applied to both to autonomous cars and business processes.”
“The current world is now firmly modelled on a combination of artificial intelligence, cloud platforms and network connectivity,” Mario Rizzante added. “This new digital foundation represents the starting point from which further changes in technology and organisations, such as blockchain or 5G, will be introduced. New opportunities will open for emerging markets and unexplored business models, for which the capacity to understand and better exploit the technology as well as to integrate it with human components will be the key to success.”
(*) Reply has applied the new international accounting standard IFRS 16 prospectively from 1 January 2019, which has had an effect on the value of EBITDA (+€12.1 million) and on the net financial position (-€82.8 million).
The manager responsible for preparing the company's financial reports, Dr Giuseppe Veneziano, states in accordance with Paragraph 2 of Article 154-bis of the Consolidated Finance Act, that the accounting information contained in this press release corresponds to the company's records, ledgers and accounting entries.
This press release is a translation, the Italian version will prevail.