THE SHAREHOLDERS' MEETING OF ALMA PETROLI APPROVED THE FINANCIAL STATEMENTS FOR THE 2020
The Shareholders' Meeting of Alma Petroli S.p.A., a leader for over 60 years in the production of high-end industrial and special bitumen, approved the Financial Statements for the year ended December 31, 2020, which reports positive results despite of the extremely difficult context:
- Revenues settled at €67.2 million decreasing of 35,8% compared to fiscal year 2019, mainly due to the collapse in oil prices and consumptions of the pandemic crisis;
- Ebitda in 2020 stood at €7.2 million, compared to €13.1 million in the previous year, confirming an Ebitda margin of over 10 pct;
- Net income was equal to € 0,756 million, compared to net income of €4.7 million in 2019;
- Net financial position at December 31, 2020 was positive and rised to € 5.5 million euros significantly improved compared to the 2019 figure (negative 4.3 million euros).
Alma Petroli CEO, Sergio Bovo, commented as follows: "In a very difficult macro-economic context characterized by a pandemic crisis, we consider the 2020 results very positive. Alma Petroli recorded a positive net result after taxes, Ebitda margin above 10% and confirmed the positive trend related to improvement of the net financial position. These results reinforce the full compliance with the ambitious Business Plan for the next five years that will see Alma Petroli committed to the development of new assets and the efficiency of existing ones. The international scenario is still characterized by the uncertainties related to the circulation of the Coronavirus and by an extremely quick rise in commodity prices. For these reasons we continue to be very committed to tackling these difficult market conditions, confident however that the PNRR plan and the actions of European governments will give a significant boost to the economy in the coming months."
