Financial highlights

CFT S.p.A. Pro-forma consolidated financial HIGHLIGHTS as at 31 december 2019

The Financial Highlights of the CFT group as at 31 December 2019 are reported below, the consolidated financial statements will be made available in the section Financial statements, reports and presentations.

Amounts in Milions of €

Consolidated net profit
Net Financial Position***


* income from sales and services (Item A1 of the consolidated financial statements)

** EBITDA is defined as net profit (or loss) for the year adjusted for:
(i) Income taxes;
(ii) Finance income and expenses;
(iii) Depreciation and amortization
(iv) Impairment of financial assets
(v) Provisions
(vi) Non-monetary costs;
(vii) Investment acquisition transaction costs;
(viii) Income and expenses that by their nature are not reasonably expected to re-occur in future periods.

*** “Net Financial Position is defined as the sum of the following:
(-) Cash and cash equivalents
(+) Current and non-current loans
(-) Financial receivables
(+) Financial payables
(+) Current and non-current lease liabilities

EBITDA and net financial position are not identified as accounting measures under IAS/IFRS , therefore, the quantitative determination of these data may not be unequivocal, nor can they be considered as an alternative measure to the evaluation of the trend of the operating result of the CFT Group. EBITDA and net financial position are measures used by the management of the CFT Group to monitor and evaluate its operating and financial performance. The criteria for determining EBITDA and net financial position applied by the CFT Group may not be consistent with those adopted by other companies and, therefore, their value may not be comparable with that determined by them.