PRESS RELEASE – The Annual General Meeting of Itway S.p.A. approves the Financial Statements as of December 31, 2018.
- On Thursday May 23rd, 2019
Annual General Meeting of Itway S.p.A.
- Draft separate financial statements and consolidated financial statements of the Group as of December 31, 2018 approved
- Allocation of profit of Euro 172 thousand to reserve approved
- First section of remuneration report approved
- Board of Statutory Auditors integrated
Ravenna, May 23, 2019 – The Shareholders meeting of Itway S.p.A., a company listed on the Mercato Telemaico Azionario organized and managed by Borsa Italiana and operating in the IT sector, at a meeting today approved the consolidated financial statements and the draft separate financial statements of the Parent Company as of December 31, 2018 as well as the first section of the Remuneration Report.
The parent company Itway S.p.A. as of December 31, 2018 posted Revenue of Euro 5,024 thousand compared with Euro 3,926 thousand in the 2017 fiscal year.
EBITDA came in at a positive Euro 1,125 thousand compared with a negative Euro 1,760 thousand as of December 31, 2017.
EBIT was a positive Euro 871 thousand compared with a negative Euro 2,182 thousand as of December 31, 2017. The Result before taxes was a positive Euro 427 thousand compared with a negative Euro 1,265 thousand as of December 31, 2017.
The fiscal period ended December 31, 2018 closed with a Result for the period that was a positive Euro 172 thousand, better than the negative Euro 1,783 thousand as of December 31, 2017
The Net Financial Position of the Parent Company as of December 31, 2018 stood at Euro -4.6 million, improving by approx. Euro 2.4 million compared with the Euro -7.0 million as of December 31, 2017.
The Itway Group, with its new operating perimeter, in the fiscal year ended December 31, 2018 posted Revenue of Euro 33.3 million, up 6% compared with Euro 31.1 million in the fiscal year ended December 31, 2017.
EBITDA was a positive Euro 1.6 million compared with a negative Euro 0.2 million in the 2017 fiscal year.
EBIT in 2018 was a positive Euro 1.2 million compared with a negative Euro 1.0 million in 2017.
The Result before taxes stood at Euro 922 thousand compared with Euro 1,428 thousand in 2017.
The Net financial position of the Group as of December 31, 2018 stood at a Euro -4.3 million compared with Euro -6.2 billion as of December 31, 2017, thereby improving by approx. Euro 2.5 million.
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Pursuant to paragraph 2, article 154-bis of the T.U.F., Sonia Passatempi, the manager mandated to draft the accounting documents of the Itway Group, declares that the accounting information included in the current press release corresponds to the documental evidence, financial books and accounting records
At the Meeting shareholders approved the proposal of the Board of Directors to allocate the profit of the 2018 fiscal year equal to Euro 172 thousand to reserve.
The Meeting furthermore approved the First Part of the Remuneration Report, Section I, pursuant to article 123-ter, paragraph 6 of Legislative Decree No 58, dated February 24, 1998, and article 84-quarter, of CONSOB Regulation No. 11971/1999 including the guidelines of the general remuneration policy.
The Meeting also approved and integrated the Board of Statutory Auditors.
Following the resignation of standing auditor Dario Rossi and of Alternate Auditor Livio Pasquetti, shareholders (i) confirmed Rita Santolini as Standing Auditor and (ii) named Samantha Gardin and Mauro Canducci as alternate auditors.
The mandate of the newly appointed members of the Board of Statutory auditors will expire at the same date as the members of the Board of Statutory Auditors currently in place, thereby with the approval of the financial statements for the 2019 fiscal year.
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Founded in Ravenna on July 4, 1996, Itway S.p.A. is the parent of a group that operates in the IT sector through the planning, production and distribution of technologies and solutions in the sectors of cyber security, cloud computing and big data. The group for over 20 years has represented a reference point in terms of solutions and services for digital transformation. Since 2001, Itway has been listed on Borsa Italiana. www.itway.com
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