As at 31 December 2016, the operating revenues and income of Burgo Group S.p.A., one of the leading European manufacturers of graphic and speciality papers, amount to Euro 1,991 million, compared to Euro 2.212 million for the previous year. This result is mainly due to the change of sales prices for electricity and reduction of sales volumes for paper.
The Gross Operational Margin (EBITDA) as at 31 December 2016 amounts to Euro 129 million, up by 27.4% compared to Euro 101 million for FY 2015. In percentages, EBITDA for FY 2016 was 6.5% of the turnover compared to 4.5% as at 31 December 2015.
The Operating Result before non-current charges as at 31 December 2016 amounts to Euro 47 million, a sharp increase compared to Euro 22 million for FY 2015.
The increase of profitability allows the Group to end the year with a net profit of Euro 5 million. The good result of the year and an attentive management of current assets resulted in a sharp drop of the net financial debt, for Euro 594 million as at 31 December 2016 compared to Euro 689 million as at 31 December 2015.
Burgo Group is one of Europe's leading producers of graphical and specialty paper.