Rome, January 18, 2018. Today the Board of Directors of Italo – Nuovo Trasporto Viaggiatori S.p.A., chaired by Mr. Luca Cordero di Montezemolo, has examined and resolved upon the approval of the company financial results for the year ended 31 December 2017, submitted to the Board by the CEO, Mr. Flavio Cattaneo.
Total operating revenues amount to €454.9 million compared to €364.4 million in 2016, increasing by 24.8%.
Adjusted Ebitda (excluding one-off costs) stands at €155.7 million compared to €95.0 million in 2016, increasing by 64.0%.
Ebit amounts to €112.6 million compared to €62.4 million in 2016, increasing by 80.3%, and includes charges for amortization and depreciation charges of €29.5 million compared to €32.5 million in 2016, a decrease of 9.4%.
EBT amounts to € 54.4 million compared to €48.0 million in 2016, increasing by 13.3%. EBT includes net financial expenses (including interest income and expense)of €58.1 million in 2017, increasing by 303.4% compared to €14.4 million in 2016 mainly due to one-off charges of €42.3 million connected with the refinancing of our debt.
Profit for the year (net of €20.7 million income tax in 2017 compared to €15.3 million in 2016) amounts to € 33.8 million compared to €32.7 million in 2016.
Net financial position as of December 31, 2017 amounts to €443.0 million compared to €538.2 million as of December 31,2016, decreasing by €95.2 million (-17.7%).
In 2017, 12.8 million passengers travelled with Italo, compared to 11.1 million in 2016, increasing by 15.3%.
In light of the abovementioned results, the Board proposed a dividend distribution of €30.0 million payable in July 2018.
The Board of Directors have also approved the dividend policy for the years 2018/2020 which envisages a dividend range to be proposed to the shareholders’ meeting between 50% and 70% of the net result, allowing for interim payments.