The assembly of SOGES S.p.A., met yesterday in Turin, approved the results for the year 2015, which have, over the previous year and as expected from the annual budget, a slight improvement in sales revenues and a more significant reduction of the value of production; the short-term net financial position is substantially unchanged and the ratio own funds and borrowing (net debt / Equity) improves.

The year closed with a net profit of 9,000 euros, after provisions for taxes of 55,000 euros and amortization of 705,000 euros.

Revenue from sales for the year amounted to 10.9 million euros, an increase of 3.5% over the previous year (10.5 million euros).

The value of production amounted to 10.0 million euros, it is less of  11% than that obtained in the previous year (11.2 million euros), affected by a significant reduction in work in progress.

The short-term net financial position amounted to -1.1 million euros, substantially in line with the previous year, while the long-term net financial position, amounted to 0.8 million euros, is attributable to medium/long-term financing guaranteed by Medio Credito Centrale in support of the 2015-2019 five-year business plan.

In the same meeting, the shareholders' meeting appointed a new councilor in the Board of Directors, Antonio Ulloa Severino, bringing to five the number of councilors.

Turin, May 10th 2016

Luigi Marconi - President of SOGES S.p.A.
 

The data are drawn from the financial statements at December 31, 2015, which is browsable above and downloadable clicking here.