Anzeige
Mehr »
Login
Donnerstag, 28.03.2024 Börsentäglich über 12.000 News von 687 internationalen Medien
Spezial am Donnerstag: Rallye II. - Neuer Anstoß, News und was die Börsencommunity jetzt nicht verpassen will…
Anzeige

Indizes

Kurs

%
News
24 h / 7 T
Aufrufe
7 Tage

Aktien

Kurs

%
News
24 h / 7 T
Aufrufe
7 Tage

Xetra-Orderbuch

Fonds

Kurs

%

Devisen

Kurs

%

Rohstoffe

Kurs

%

Themen

Kurs

%

Erweiterte Suche
Dow Jones News
242 Leser
Artikel bewerten:
(0)

B&C Speakers SpA: Interim report approval 1H2018

Dow Jones received a payment from EQS/DGAP to publish this press release.

B&C Speakers SpA 
B&C Speakers SpA: Interim report approval 1H2018 
 
14-Sep-2018 / 18:00 GMT/BST 
 
*PRESS RELEASE* 
 
*B&C Speakers S.p.A.:* 
 
*The Board of Directors approves the Interim Report for the first half of 
2018* 
 
*- Consolidated revenues equal to Euro 28.01 million (an increase of 39.23% 
compared to the Euro 20.12 million for the same period of 2017);* 
 
*- Consolidated EBITDA equal to Euro 5.84 million (an increase of 20.40% 
compared to the Euro 4.85 million for the same period of 2017);* 
 
*- Group profit equal to Euro 3.61 million (14.37% up from the Euro 3.15 
million for the same period of 2017);* 
 
*- Group net financial position negative and equal to Euro 7.90 million 
(negative and equal to Euro 6.72 million at year-end 2017).* 
 
_Bagno a Ripoli (prov. Florence), 14 September 2018_ - The *Board of 
Directors* of *B&C Speakers S.p.A.*, one of the foremost international 
players in the design, manufacture, distribution and marketing of 
professional electro-acoustic transducers, approved the Interim Report of 
the group for the first half of 2018 in accordance with IFRS international 
accounting standards. The half being analysed is the first one in which 
Eighteen Sound S.r.l. fully contributed to the economic and financial 
figures of the B&C Speakers Group. To better comprehend economic trends 
during the period, an indication of trends with the scope of consolidation 
held equal (B&C Speakers S.p.A. and its foreign subsidiaries) is provided at 
the end of this press release (see table on page 5). 
 
*Consolidated revenues *in the first half of 2018 amounted to Euro 28.01 
million, resulting in growth of 39.23% over the same period of 2017 when 
turnover stood at Euro 20.12 million. 
This significant increase was the result of excellent growth of 9,75% 
achieved by the B&C Speakers Group when the scope of consolidation is held 
constant, to which was added the turnover achieved by _Eighteen Sound_ which 
provided a net contribution of Euro 5.93 million. 
 
During the period, thanks also the effects of the acquisition, the Group 
heavily increased turnover in all operating areas. In particular we note the 
significant growth in the European market (+33% with sales of Euro 12.4 
million) and in the Latin American market (+95% with sales of Euro 2.6 
million). Growth in North America and in the Asia-Pacific area was also very 
strong, with rates above 23% and 43% respectively. 
Below is a full breakdown for the first half of 2018 by geographic area: 
 
/ 
 
/ 
*Cost of sales* during the first six months of 2018 had an increased impact 
on revenues compared to the first half of 2017, rising from 58.10% to 
61.45%. 
The greater impact of the Cost of Sales with respect to revenues was due to 
the inclusion of the subsidiary Eighteen Sound within the scope of 
consolidation, which still has margins which are much lower than those of 
B&C Speakers. The positive effects deriving from the integration of the two 
structures, mainly associated with synergies in acquisitions and production, 
will be progressively seen during the year and will be fully achieved during 
2019. 
 
*Indirect Personnel* 
Costs for indirect personnel increased in both absolute terms and in terms 
of impact on turnover. This increase can mainly be attributed to the 
acquisition of _Eighteen Sound_. 
 
*Commercial Expenses* 
Commercial expenses showed a slight increase in absolute value compared to 
the first six months of the previous year. Therefore, their impact was 
slightly reduced, given the strong corporate growth. 
 
*Administrative and General* 
General and administrative costs also increased in a manner less than 
proportional to the increase in Group sales, reducing their impact by almost 
one percent; essentially due to greater production volumes following the 
acquisition. 
 
*EBITDA and EBITDA Margin* 
Mainly as a result of the trends described above, EBITDA in the first six 
months of 2018 increased to Euro 5.84 million, an increase of 20.4% over the 
same period of 2017 (when the amount was Euro 4.85 million). 
 
*The EBITDA margin* relative to the first six months of 2018 (equal to 
20.86% of revenues from the first quarter of 2018 and to 24.12% in the first 
six months of the previous year) is due to the combined effects of the 
increase in volumes and the consolidation of _Eighteen Sound_ that still has 
lower margins with respect to B&C Speakers. 
 
_Group Net Result and Net Financial Position_ 
The Group's net profit at the end of the first six months of 2018 amounted 
to Euro 3.61 million and represents 12.87% of consolidated revenues with a 
total increase of 14.37% with respect to the corresponding period in 2017. 
The Group maintains good financial stability, with a significant generation 
of cash during the period; the Net Financial Position at the end of the 
first half of 2018 was negative and equal to Euro 7.90 million against a 
value of 6.72 at the end of 2017. However, it should be noted that in the 
same period, dividends were paid totalling Euro 4.61 million. 
 
*The Group's reclassified Income Statement schedule relative to the first 
half of 2018 is shown below, compared with the same period in 2017 (the 
schedule represents the situation of the B&C Speakers Group at the end of 
the first half of 2018, following the acquisition of Eighteen Sound 
S.r.l.):* 
 
/ 
 
*For a better understanding of the economic trends, the figures for the 
first half of 2018 and the corresponding period in 2017 are provided below, 
with the same scope of consolidation net of the acquisition:* 
 
/ 
 
*Significant events occurring after 30 June 2018* 
 
On 11 July 2018, the company finalised the _ruling_ procedure with the 
Regional Revenue Office for the _Patent Box_ scheme presented from 2015. As 
a result of the agreement made with the Revenue Office, B&C Speakers will 
benefit from a consistent tax discount which, for the first five-year period 
2015/2019, has been estimated at over Euro 2.8 million in minor direct 
taxes, thanks to the high level of know-how developed by the company and the 
B&C Speakers brand, registered in over 60 countries. The tax saving for 2015 
has been determined at Euro 414,000 while those for the following years 
shall be accurately calculated soon and communicated to the market. 
 
*Business outlook* 
 
The available data, as at the date this document was prepared, suggests that 
2018 will be a year of significant growth for the B&C Speakers Group, 
supported by the following elements: 
 
- The first half was very positive for the Parent Company B&C Speakers and 
both order collection data and the number of projects already approved by 
existing customers and new issues suggests that 2018 will be a positive 
year. During April, very significant orders continued to be received for the 
Parent Company B&C Speakers S.p.A. Indeed, the flow of orders received 
during the first 8 months of 2018 was up by 17% with respect to the same 
period in 2017; 
 
- At the same time, the positive signs from customers of Eighteen Sound and 
Sound&Vision are being confirmed. After the year largely began with 
uncertainty relative to the transfer of ownership, the market reacted 
positively and the new orders inflow has been good. 
 
The B&C Speakers S.p.A. Financial Reporting Manager Francesco Spapperi 
confirms - in accordance with art. 154-bis, paragraph 2 of Italian 
Legislative Decree No. 58/1998, that the accounting disclosures contained in 
this press release are consistent with company's accounting documents, books 
and records. 
 
*B&C Speakers S.p.A.* 
Simone Pratesi (Investor Relator), 
Tel: +39 055/6572 303 
Email: spratesi@bcspeakers.com 
 
*B&C Speakers S.p.A.* 
B&C Speakers S.p.A. is an international leader in the design, production, 
distribution and marketing of professional electro-acoustic transducers (the 
main components in acoustic speakers for music, commonly referred to as 
loudspeakers), supplied mainly to professional audio-system manufacturers 
(OEM). With around 160 employees, approximately 10% of which are assigned to 
its Research and Development Department, B&C Speakers carries out all 
design, production, marketing and control activities at its offices in 
Florence and Reggio Emilia for the brands of the Group: B&C, 18SOUND and 
CIARE. Most of its products are developed according to its key customers' 
specifications. B&C Speakers also operates in the US and Brazil through two 
subsidiaries carrying out commercial activities. 
 
*Consolidated Statement of Financial Position as of June 30th 2018.* 
/ 
 
*Consolidated Statement of Comprehensive Income for the first half of 2018* 
 
/ 
 
Attachment 
 
Document title: B&C Speakers 1H2018 financial results 
Document: http://n.eqs.com/c/fncls.ssp?u=WTXNTKELEH [1] 
 
Dissemination of a CORPORATE NEWS, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
End of Announcement - EQS News Service 
 
723965 14-Sep-2018 
 
 
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=7b9142618b454f64aca2593771793b81&application_id=723965&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

September 14, 2018 13:00 ET (17:00 GMT)

Großer Dividenden-Report 2024 von Dr. Dennis Riedl
Der kostenlose Dividenden-Report zeigt ganz genau, wo Sie in diesem Jahr zuschlagen können. Das sind die Favoriten von Börsenprofi Dr. Dennis Riedl
Jetzt hier klicken
© 2018 Dow Jones News
Werbehinweise: Die Billigung des Basisprospekts durch die BaFin ist nicht als ihre Befürwortung der angebotenen Wertpapiere zu verstehen. Wir empfehlen Interessenten und potenziellen Anlegern den Basisprospekt und die Endgültigen Bedingungen zu lesen, bevor sie eine Anlageentscheidung treffen, um sich möglichst umfassend zu informieren, insbesondere über die potenziellen Risiken und Chancen des Wertpapiers. Sie sind im Begriff, ein Produkt zu erwerben, das nicht einfach ist und schwer zu verstehen sein kann.