The CAD IT Board of Directors approves the 2014 Draft Financial Statements, calls the ordinary Shareholders’ Meeting and proposes an ordinary dividend of euro 0.13 per share

The Board of Directors of CAD IT S.p.A. (www.caditgroup.com), leader in the Italian financial software market and listed in the STAR segment of Borsa Italiana, today approved the Draft Financial Statements and the Consolidated Financial Statements as at 31st December 2014.

The Consolidated Financial Statements at 31st December 2014 show:

• Production Value of Euro 56.7 million (Euro 52.2 million in 2013); the increases in internal work capitalized for the development of new products (asset increases due to internal work) were equal to Euro 3.5 million compared to Euro 3.7 million in the previous year;
• Gross Operational Result (EBITDA) of Euro 7.4 million (13.1% of Production Value) compared to Euro 4.9 million in 2013 (9,3% of Production Value);
• Operational Result (EBIT) of Euro 2.4 million (4.2% of Production Value), compared to Euro 0.4 million in 2013 (0.8% of Production Value). The intangible fixed asset amortization went from Euro 3.9 million in 2013 to Euro 4.5 million in 2014;
• Pre-tax and pre-third party share Result of Euro 2.6 million (4.5% of Production Value) compared to Euro 0.7 million in the previous financial period (1.4% of Production Value).
• Net Result of Euro 0.6 million (1.1% of Production Value) compared to Euro -0.3 million in the previous year (-0.6% of Production Value).

CAD IT hereby reports that the Group’s Consolidated Net Financial Position at 31st December 2014 is in credit by Euro 3.6 million, compared to Euro 2.6 million in debit registered at 31st December 2013.

The Parent Company CAD IT S.p.A. recorded a Production Value of Euro 56.2 million compared to Euro 51.3 million in the previous financial period with a net result of Euro 0.5 million compared to Euro 0.1 million at 31st December 2013.

Based on the 2014 financial year results, at the coming Shareholders’ Meeting, the Board of Directors has decided to propose the distribution of an ordinary dividend of Euro 0.13 per share, allocating the entire year’s profit of Euro 0.5 million, together with Euro 0.7 million to be withdrawn from the undivided available profits reserve, which will then have a residual amount of Euro 10.3 million.

The dates to be suggested by the CAD IT Board of Directors at the Shareholders’ Meeting for ex-dividend and ordinary dividend payment are May 11th 2015 and May 13th 2015 respectively with the record date set for May 12th 2015.

Giuseppe Dal Cortivo, CAD IT’s Chairman and CEO, said: “the results achieved are in line with our market growth and expansion plan. We now intend to promote our uniqueness, which lies in creating software packages that are now being used to manage every kind of financial instrument in international financial institutions of all sizes and types, from front to back office, on an international scale”.

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The Manager charged with preparing the company’s financial reports, Michele Miazzi, declares, pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the document results, books and accounting records.

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Pursuant to art. 89-bis of the Issuer Regulations, CAD IT reports to have approved the annual report on corporate governance and ownership structures which will be published, in accordance with the laws in force, in the Investor Relation section on the Company’s internet website www.caditgroup.com, at the authorized storage mechanism for the regulated information called “1INFO” on the website www.1info.it and made available, to anyone on request, at the Company’s registered office of CAD IT S.p.A. and at Borsa Italiana S.p.A.. Written notification of such publication will be given.

CAD IT’s Board of Directors has also summoned the ordinary Shareholders’ Meeting in one single call for 29th April 2015.

The Shareholders’ Meeting will be called to deliberate on the approval of the 2014 Financial Statements, the profit allocation, the renewal of company roles (Board of Directors and Board of Auditors), the appointment of the accounts auditor for financial years 2015-2023 and the first section of the remuneration report.

It should be noted that the auditing of the draft financial statements is being completed and that the annual financial report, together with the Board of Auditors’ and the Auditing Firm’s reports, as well as all the other documents related to the Shareholders’ Meeting agenda required by the applicable regulations, will be made available to the public within the deadlines provided for by law.