MarazziGroup continues positive trend

The first nine months of the year have consolidated the improvement trend in the economic/financial indicators of Marazzi Group, world leader in the ceramic sector. In spite of the difficult economic situation, the third quarter of 2007 saw an acceleration in the growth trends already exhibited in the first half of the year (although the 8% depreciation in the dollar made direct comparisons with the previous period less meaningful).

Consolidated turnover for the period January - September amounted to 756 million euro (up 3.9% on the equivalent period in 2006), while in the third quarter alone revenues from sales activities reached 247.7 million euro, 4.4% up on the same period in 2006.

The figures for the nine month period confirm the overall strengthening of market share both in the individual Business Units' domestic markets and in the international markets served by BU Italy and BU Spain.

The Russian Business Unit has posted 29.7% growth, BU Italy 5.5% and BU Spain 8.4%, but due to the market contraction sales in the United States have fallen by 4% in dollar terms (11.2% in euros). However the third quarter has shown a positive trend. The US market has seen a reversal in the trend experienced over the previous three quarters with a 4.1% increase in dollar terms (down 3.2% in euros).

Consolidated EBITDA over the nine-month period has reached 139 million euro (+2.6%), 18.4% of turnover, while profit margins remained positive in the third quarter (up 6.5% on the same period last year).

EBIT (operating margin) increased by 7.3% to reach 98 million euro with strong third quarter growth (up 10.7% on the same period last year).

The net result for the period January-September fell slightly (-1.5%) to 46.8 million euro, substantially in line with that of the same period last year. (JF)