Landi renzo returns to profit in 2017, one year ahead of schedule in the 2018-2022 strategic plan. The company, which produces LPG and methane fuel components and systems for motor vehicles, closed the last financial year with a profit of 3,702 million euros, against the loss of 26 million in 2016.
Landi Renzo communicates it in a note, specifying that the turnaround process was completed in the second half of 2017 and results are expected for 2018 in line with the strategic plan.
As for the other numbers in the budget, the turnover grew by 12%, to 206,294 million. Ebitda, on the other hand, went from 2,9 to 4,7 million, while the figure adjusted it was positive for 12,7 million. On the contrary, theEBIT was negative by 11,5 million, against -18,9 million in 2016.
La net financial position was negative by 48,968 million, an improvement compared to -75,71 million as at 31 December 2016.
The Board has proposed the renewal of the authorization for the purchase and sale of treasury shares.
Thursday, on the eve of the counts, the Landi Renzo stock on the Stock Exchange had ripped up 6,91%. On Friday morning, having seen positive expectations confirmed, traders continue to buy the company's shares, which are up 5,9%, to 1,54 euros.
