Uboldo, 10th March 2017 – The Board of LU-VE Group has approved the draft financial statement of LU-VE S.p.A. and the consolidated financial statement of 31st December 2016 (prepared following IAS/IFRS international accounting principles).

Spirotech, the Indian company acquired in October 2016, was included in the consolidated statement for the first time.

• Aggregated turnover 2016: €251.3 million (€212.3 million in 2015; +18.4%);
• Turnover growth on like-for-like basis equal to 9.1% (turnover on products: +9.7%);
• Net profit for aggregated financial year of €18.4 million (€9.6 million in 2015; +68.5% on like-for-like basis);
• Aggregated EBITDA of €33.0 million (€26.2 million in 2015; +17.3% on like-for-like basis);
• Adjusted aggregated EBITDA (excluding non-recurrent costs) of €35.0 million (€29.1 million in 2015; +7% on like-for-like basis);
• Negative net financial position of €30.2 million (positive by €4.2 million in 2015).

The President, Mr. Iginio Liberali underlined: “It has been a very positive year. When we entered the stock market in 2015, we promised that the funds raised would be dedicated to new investments to further strengthen the company. We were committed to comprehensive growth, in emerging geographical areas, including through acquisition. Mission accomplished. We have kept our promises. Our ‘leadership with passion’ has guided us and will continue to do so. I would therefore like to thank all the women and men of LU-VE Group who have made all this possible”.

The shareholders meeting of LU-VE approved the transfer from AIM Italia to MTA on the Italian Stock Exchange. The meeting appointed the new Board of Directors, composed of the following; Iginio Liberali (President), Pierluigi Faggioli (Vicepresident), Matteo Liberali, Michele Faggioli, Attilio Arietti, Giovanni Cavallini, Michele Garulli, Anna Gervasoni, Fabio Liberali, Laura Oliva, Stefano Paleari, Roberta Pierantoni and Marco Vitale.

The new Board of Auditors was also appointed: Paola Mignani (President), Stefano Beltrame (Regular Auditor), Ivano Pelassa (Regular Auditor), Mauro Cerana (Alternative Auditor) and Giulia Chiarella (Alternative Auditor).

Full version (Italian) at: http://www.borsaitaliana.it/borsa/notizie/price-sensitive/188804/detail.html