Biesse Group: approved by the Board the 2007 preliminary consolidated financial statements

The Board of directors of Biesse (www.biesse.it), leader company from Pesaro which operates in the market for machinery and systems for working wood, quoted on the Star segment of the Italian stock exchange, has yesterday (20 march 2008) approved the preliminary financial statements for the year to 31 December 2007.
The Consolidated Financial Statements of the Biesse Group for the 12 months of 2007 showed net revenues of 466.0 million euros (+17.5 percent compared to the same period of 2006); the value added is of 182.9 million euros (+18.1 percent compared to the same period of 2006) equal to a margin of 39.3 percent of revenues; Ebitda of 79.1 million euros (+20.3 percent compared to the same period of 2006) equal to a margin of 17.0 percent of revenues; Ebit of 65.4 million euros (+25.7 percent compared to the same period of 2006) equal to a margin of 14.0 percent of revenues; pre-tax profit of 62.7 million (+22.7 percent compared to the same period of 2006) equal to a margin of 13.5 percent of revenues; net profit of 41.7 million euros (+29.2 percent compared to the same period of 2006) equal to a margin of 8.9 percent (effective tax rate 33.6 percent).
At 31 December 2007 the net financial position of Biesse Group was positive and equal to 1.1 million euros, down 13 million euros compared to the amount reported for the same period of the previous year. The result was significantly affected by various extraordinary items which occurred throughout the period and which, in total, amounted to over 40 million euros (which includes payment for acquisitions and of the extraordinary dividend which was paid out in December 2007) which more than offset the positive cash flow generated by ongoing activities.