Overview
Italy industrial holding's Q1 Immsi Group consolidated net sales rose 1.8% at constant FX, fell 4.2% at current FX
EBITDA margin for Q1 reached 15.8%, among highest in company history
Outlook
Company says it will continue to engage in commercial activities across all its business operations to capitalise on favourable market opportunities
Result Drivers
HIGHER VEHICLE SALES - Piaggio segment saw global vehicle sales rise 1.5% y/y, supporting revenue at constant FX
MILITARY CONTRACTS - Intermarine segment nearly doubled revenue y/y, mainly from military contracts
MARGIN IMPROVEMENT - Co attributed historically high EBITDA margin to prudent resource allocation and financial management
Company press release: ID:nBIA5m5QjP
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EBIT
EUR 19.7 mln
Q1 EBITDA
EUR 58.4 mln
Q1 EBITDA Margin
15.80%
Q1 EBIT Margin
5.30%
Q1 Pretax Profit
EUR 2.1 mln
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)