Zignago: 9-month net profit up 0.3%

The consolidated net profit of Italian group Industrie Zignago Santa Margherita SpA rose 0.3% year-on-year to EUR 14.7 million (USD 18.9 million) for the first nine months of 2004, the group said on 1…

The consolidated net profit of Italian group Industrie Zignago Santa Margherita SpA rose 0.3% year-on-year to EUR 14.7 million (USD 18.9 million) for the first nine months of 2004, the group said on 11 November 2004. Industrie Zignago Santa Margherita manages a diversified portfolio of companies involved in the production of glass containers, fine wines and linen yarns. Earnings before interest, tax, depreciation and amortisation (EBITDA) grew 1.5% to EUR 50.8 million (USD 65.4 million), while net revenue increased by 1.8% to EUR 205.9 million (USD 265.3 million). Foreign-generated turnover fell 3.8% to EUR 71.9 million (USD 92.6 million). The glass sector generated 65.5% of the company“s net revenue, the wine sector generated 22.3% and the textile sector accounted for 11.5%. Consolidated net worth stood at EUR 185.4 million (USD 238.9 million). Consolidated net revenue for the 3Q of 2004 stood at EUR 69.8 million (USD 89.9 million), up 0.4% year-on-year. EBITDA for the 3Q of 2004 increased 3.2% year-on-year to EUR 16.7 million (USD 21.5 million), while operating profit went up 6.1% year-on-year to EUR 8.5 million (USD 10.9 million) and consolidated net profit stood at EUR 4.5 million (USD 5.8 million). (Unless otherwise stated, all figures/comparisons are for Jan-Sept 2004/Jan-Sept 2003.)