Growth of profitability: consolidated EBITDA of € 38.2 million (+21%), EBITNAR* of € 26 million (+5%). Consolidated net profit of € 4.1 milioni di Euro (13 million in 2005). Dividend proposed of € 0.06 per share (with coupon detachment on May 7th 2007). Consolidated net financial position negative by € 58.3 million (marked improvement on net debt of €125.7 million at 2005 year end)
Bologna, 14 February 2007 - Today the BoD of Datalogic - a company listed in the STAR segment of the Milan Bourse and active in the design, production and distribution of barcode reader systems and RFID (radio frequency identification devices) - approved draft financial statements for the year ending on 31 December 2006.
During 2006 revenues rose to € 381.6 million (mn) with a 85% increase over € 205.9 mn in the previous year.
The Annual General Meeting of Shareholders will be convened for April 19th 2007; the Board of Directors will propose to the AGM of shareholders distribution of a per-share dividend of € 0.06 (with coupon detachment on May 7th 2007 and payment on May 10th 2007).
The Group's consolidation area has changed since 2005, as 2006 revenues also include sales from PSC, a US-based company, acquired at the end of the previous financial year and consolidated as from December 2005 (during which the company reported a turnover of over 19 million euros).
Net of PSC, Datalogic's revenues grew of over 9% compared with the same period last year and to reach € 203.6 million.
As regards profitability, EBITDA amounted to € 38.2 mn and improved by 21% vs. € 31.5 mn in 2005. EBITNAR totalled € 26 mn (vs. € 24.8 mn in 2004), with growth of +5% YoY.
FY2006 closed with consolidated net profit of €4.1 million (€13 million in the same period of the previous year), a marked improvement on profits of €1.4 million recorded at 30 September 2006. This result was heavily influenced by the negative performance posted by PSC (for the most part related to extraordinary and non-recurring activities): €2.5 million was recognised for costs following the acquisition of the company; a restructuring provision of €1.9 million was made; and amortisation of intangible assets following the acquisition amounted to €2.4 million.
However, it should be highlighted that PSC returned to profitability in 2006; in the fourth quarter the company recorded EBITDA of €4.2 million, a notable improvement on the previous quarters (€350 thousand in the first quarter, €1.3 million in the second and €2.6 million in the third).
As regards individual business segments, in 2006 the Data Capture division achieved revenues of € 309.3 mn (+111% vs. 2005), whilst the Business Development division achieved € 72.3 mn (+22% vs. € 59.4 mn in 2005).
All the geographical areas grew; in particular the North America area (+129%) and the Rest of the World (+131%).
In the fourth quarter the Group generated cash for € 8.1 mn (of which € 4.2 related to the purchase of treasury shares).
At 31 December 2006, the net financial position of Datalogic was negative by € 58.3 mn, an improvement on its position at 31 December 2005 (negative by €125.7 mn). This was mainly due to the share capital increase which raised €76.6 mn concluded in January 2006. Moreover, in the fourth quarter of last year the Group generated cash for € 8.1 mn (of which € 4.2 mn taken up by the activity of purchase treasury shares).
It should be highlighted that, once again in 2006, the investments on R&D - totally expensed in the income statement - equal to € 26.3 mn (i.e. 7% of revenues) and a 80% increase vs. 2005.
The auditing activity for the FY06 interim report has not yet been completed and the audit report will be available within the deadlines set at law. In addition, the attached income statement and balance sheet are reclassified forms and therefore they have not been subject to auditor verification.
"The integration of PSC is going very well," comments Datalogic's CEO, Roberto Tunioli, 'We can now look at new growth options to accelerate the Group's development".