Reditus’ Net Profit increase by 22% in the 1st quarter 2016
- Operating income of EUR 25.5 million (vs. EUR 30.7 million)
EBITDA of EUR 2.0 million (vs. EUR 2.3 million)
EBITDA margin 7.9% (vs. 7.6%)
Net Profit of 197 thousand euros (vs. 161 thousand euros)
International sales represent 37% of Revenues
1. Summary of the Activity
During the first quarter of 2016 (1T16), Reditus continued its focus on international operations, especially in nearshoring, continuing the effort to consolidate the position in the domestic market. The continued focus on operational efficiency and higher added value services continued to be a key priority of the Group.
Operating income amounted to 25.5 million euros, down 16.8% over the same period last year, due to business contraction in the African market, following a delay in investment decisions by customers that should be resumed during the last quarter of 2016 and 2017. In the domestic market, the activity decreased by 16.1%, reflecting the adverse economic environment that continued to affect Portugal. EBITDA was EUR 2.3 million, equivalent to an EBITDA margin of 7.9%, 0.3pp above the margin of 7.6% achieved in 1T15.
Consolidated Net Income reached 197,200 euros, an increase of 22.2% over the same period last year.