TOTAL REVENUES: 560.5 million euro (+13.6% over 1H17)
Adjusted EBITDA: 55 million euro (+15.9% over 1H17)
EBIT: 32.6 million euro (+27.8% over 1H17)
NET PROFIT: 23 million euro (+49% over 1H17)
TARGET FY 2018: REVENUES at 1,200 million euro and Adjusted EBITDA of 145 million euro
"After extraordinary growth in 2017, the first half of 2018 confirms the trend with an increase in revenues of around 14% and profitability of around 10.1%," commented CEO Paolo Pandozy. "Growth across all the markets in which we operate. In particular, the half-year saw very positive performance in the Finance area, also as an effect of last year's acquisition of Infogroup, which allowed the Group to grow significantly in the digital payment solutions segment, and in the Industry and Services area, where we were able to seize the opportunities generated by the Industry 4.0 phenomenon thanks to the significant investments made in Research & Development for the development of industrial automation systems and artificial intelligence techniques for predictive maintenance. For the end of the year, we confirm the target of 1.2 billion euro in Revenues and 145 million of EBITDA, while we will continue to support growth abroad where we are increasingly present for seizing the many opportunities for development, including through acquisitions".
Engineering's offer is aimed at medium and large customers, both private (banking, insurance, industry, services and telecommunications) and public (healthcare, local and central public administration, defense).
At 30 June 2018, the Group recorded double-digit growth in both revenues and profitability. Total revenues reached 560.5 million euro, an increase of 13.6% compared with the 493.4 million euro of 1H2017. Adjusted EBITDA amounted to 55 million euro, up 15.9% on the previous year with a profitability of 10.1%.
Finally, net profit amounted to 23 million euro, up 49% compared with the same period the previous year.
For managing this growth and giving effect to that forecast for the second half of the year, the Group recruited 500 new staff in the first part of the year and plans to integrate another 300 for the second half, confirming the trend of growth of the workforce in the last four years.