Reditus’ Operating Income reaches 51 million euros in the 1st half of 2016
- Operating Income of EUR 50.5 million (vs. EUR 60 million)
EBITDA of 3.7 million euros (vs. 5.0 million)
EBITDA margin 7.3% (vs. 8.4%)
Net profit of 268 thousand euros (vs. 325 thousand euros)
International sales represent 37% of total
1. Summary of the Activity
During the first half of 2016, Reditus continued its strategy of investing in international operations, namely on nearshoring opportunities, maintaining the effort to consolidate the position in the domestic market. The focus on operational efficiency and on higher value-added services continued to be a key priority of the Group.
In the reporting period, investment decisions kept on being postponed for projects in the international area, particularly in the African market, which will be taken up during the last quarter of 2016 and in 2017.
Operating income amounted to 50.5 million euros, down 15.9% over the same period last year due to business contraction in the African market and to the maintenance of the adverse economic environment in the domestic market.
EBITDA was 3.7 million euros, equivalent to an EBITDA margin of 7.3%, 1.1pp below the margin of 8.4% achieved in the same period last year.