IRCE

AGM Information • Apr 30, 2019

Informazione Regolamentata n. 0163-13-2019		Data/Ora Ricezione 30 Aprile 2019 15:04:38	MTA - Star
Societa'	:	IRCE
Identificativo Informazione Regolamentata	:	117664
Nome utilizzatore	:	IRCEN01 - CASADIO
Tipologia	:	1.1
Data/Ora Ricezione	:	30 Aprile 2019 15:04:38
Data/Ora Inizio Diffusione presunta	:	30 Aprile 2019 15:05:23
Oggetto	:	IRCE's shareholders' meeting has share	approved 2018 financial statements and the distribution of € 0,05 as dividend per
Testo del comunicato

Vedi allegato.

IRCE'S SHAREHOLDERS' MEETING HAS APPROVED 2018 FINANCIAL STATEMENTS AND THE DISTRIBUTION OF € 0.05 AS DIVIDEND PER SHARE

IRCE SPA's shareholders' meeting has today approved the financial statements as of December 31st 2018 and has resolved a dividend distribution of € 0.05 per share with ex-dividend date, 27 May 2019, record date 28 May 2019 and payment date 29 May 2019.

Consolidated data:

Consolidated income statement data (€/million)	year 2018	year 2017	Change
Turnover	355.40	357.13	(1.73)
EBITDA2	14.96	18.44	(3.48)
EBIT	7.54	9.97	(2.43)
Profit before taxes	10.24	8.15	2.09
Net / (Loss) of the period	5.88	4.68	1.20
Adjusted EBITDA3	17.42	16.52	0.90
Adjusted EBIT3	10.00	8.05	1.95
Consolidated statement of financial position data	As of 31.12.2018	As of 31.12.2017	Change
(€/million)
Net invested capital	191.01	186.52	4.49
Shareholders' Equity	131.30	132.40	(1.10)
Net financial debt	59.71	54.12	5.59

The shareholders' meeting has appointed the Board of Directors for the years 2019-2020-2021. Only the list of the majority shareholder Aequafin S.p.A has been deposited. The following Directors have been appointed: Mr Filippo Casadio, Mr Francesco Gandolfi Colleoni, Mr Gianfranco Sepriano, Mrs Francesca Pischedda, Mr Orfeo Dallago and Mrs Gigliola Di Chiara. Directors Mrs Francesca Pischedda and Mrs Gigliola Di Chiara are qualified independents according to art. 148, comma 3 TUF and Code of Conduct for listed companies (Codice Preda).

¹ The item "Turnover" represents the "Revenues" reported in the income statement.

² EBITDA is a performance indicator used by the Management of the Group in order to assess the operating performance of the company and is not identified as an accounting item within IFRS; it is calculated by IRCE S.p.A. by adding amortisation/depreciation, allocations and write-downs to EBIT.

³ Adjusted EBITDA and EBIT are respectively calculated as the sum of EBITDA and EBIT and the income/charges from operations on copper derivatives transactions (€ + 2.46 million in 2018 and € -1.92 million in 2017). These indicators are used by the Management of the Group in order to monitor and assess the operational performance of the Group and are not identified as accounting items within IFRS. Given that the composition of these measures is not regulated by the reference accounting standards, the criterion used by the Group could potentially not be consistent with that adopted by others and therefore not be comparable.

PRESS RELEASE

The shareholders' meeting has resolved the authorization to buy and to transfer own shares according to art. 2357 civil code.

The shareholders' meeting has also voted favourably on the remuneration report pursuant to Art. 123 - ter of the Consolidated Financial Act and Art. 84 - quarter of the Issuers' Regulations.

Imola, 30 April 2019

IRCE SPA

Contacts: Investor relator, Sepriano Gianfranco Tel. + 39 0382 77535 e-mail: gianfranco.sepriano@irce-group.com

IRCE Group is an important player in the winding wires and electric cable sector. The production is deployed in 4 facilities in Italy and 5 facilities abroad: Nijmegen (NI), Blackburn (UK), Joinville SC (Brazil), Kochi (India) and Kierspe (Germany). The Group includes also 5 commercial companies; four of them are located outside Italy (Germany, Spain, Switzerland, Poland) and the Group employs 723 employees. During year 2018 it was established in China the company Irce Electromagnetic wire (Jiangsu) Co. Ltd..