Itway Group has approved the capital increase to a maximum of € 16.7 million at the price at € 1.90 per share . Itway The Group recorded revenues of 36.1 million euros, broadly in line with those made in the first quarter of 2009-10. In all increase profit margins: EBITDA of 1.079 million Euros, an increase of 13.58%, EBIT amounted to Euro 850 thousand an increase of 23.73%, net profit before taxes was Euro 599 thousand an increase of 31.94% .
Italtel Group closed the year ended 31 December 2009 with a net loss
184.9 million euros, 133.7 million euros attributable to the writedown of goodwill made by the principal subsidiary Italtel SpA Net debt was 269.9 million of
€
The debt refinancing was successfully completed, according to two main guidelines:
1) a capital increase to 70 million euros, made 24 September 2010, signed by Telecom Italy and Cisco
shareholders;
2) the availability new lines to finance working capital and short-and medium-to long-term
, for a total of 341 million euros.
Sustainability financial business plan 2010-2012 is then guaranteed by a new and more appropriate structure
refinancing, as well as being sworn to by authoritative experts and consulting firms.
The results of the first half, better than expected, the appointment to the chairmanship of Umberto de Julio and that of
new CEO, Stefano Pileri, are additional elements that enhance the capacity of the Group
in achieving the objectives.
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