Cerved Information Solutions S.P.A. Reports Consolidated and Company Earnings Results for the Year Ended Dec. 31, 2016; Provides Earnings Guidance for the Year of 2017; Announces Transfer of Registered Office
For the year, on company basis, the company reported revenues of EUR 3.1 million against EUR 2.8 million a year ago. Operating loss was EUR 3.4 million against EUR 2.4 million a year ago. Profit before taxes was EUR 41.6 million against EUR 37.9 million a year ago. Net income was EUR 42.5 million against EUR 38.3 million a year ago. Cash flow from operating activities was EUR 2.6 million against EUR 2.4 million for the same period a year ago. Additions to property, plant and equipment were EUR 0.1 million against EUR 0.1 million a year ago.
With respect to the business outlook for 2017, and similarly to 2016, the group foresees a scenario of increasing revenues and EBITDA, with a contribution from all business divisions (Credit Information, Credit Management and Marketing Solutions), in addition to a further integration of processes and efficiency gains, with the aim of improving margins and the generation of operating cash flows.
On January 13, 2017, the Board of Directors of the company resolved to transfer its registered offices to Via dell'Unione Europea n. 6A/6B, in San Donato Milanese. The
transfer of the registered offices resolved in light of the continuous increase of the group's workforce, as an effect of the combination of organic growth and recent acquisitions is effective from February 6, 2017 and will allow Cerved to improve its organizational efficiency.