THE SHAREHOLDERS' MEETING OF ALMA PETROLI APPROVED IN ORDINARY SESSION THE FINANCIAL STATEMENTS FOR 2019
The shareholders' meeting of Alma Petroli S.p.A, a company that has been a leader in the production of high-end road paving, industrial, and special bitumen for over 60 years, approved in ordinary session the financial statements for the year ended on 31 December 2019, which show very positive results:
- sales revenues, amounting to 104.8 million euros, increased by 6.8% compared to financial year 2018;
- EBITDA in 2019 stood at 13.1 million euros, compared to 9.3 million euros in 2018, representing an increase of 3.9 million euros (+ 41.7%);
- net profit after taxes was 4.7 million euros, compared to net profit of 2.2 million euros in 2018, an increase of 2.5 million euros (+112.3%);
- the net financial position as at 31 December 2019 was negative by 4.3 million euros, compared to 15.3 million euros at the end of 2018, an increase of 11.0 million euros.
Sergio Bovo, the CEO of Alma Petroli, commented as follows: “In the context of a very uncertain macroeconomic environment, we consider the results for 2019 to be very positive, supported by the good performance of the bitumen business and confirming the effectiveness of the strategies undertaken so far by the company. In the most recent period the international situation has significantly weakened due to the spread of coronavirus and the sudden drop in prices in the key oil markets. Today our company is committing all its resources and energy to face these difficult market conditions, both in terms of careful management of business relations with customers and in terms of carefully considered actions aimed at, on the one hand, containing costs that can be postponed without compromising business development and, on the other hand, confirming important strategic investments for the further strengthening of Alma Petroli.”