Financial accounts
On 26 June 2017, MM Shareholders' Meeting acknowledged MM Group consolidated annual financial statements as at 31 December 2016 which were previously approved by MM Board of Directors on May 3, 2017.
MM Group realized a net profit of approx. 18.3 million € and an operating profit of approx. 35.3 million €. The consolidated financial statements as at 31 December 2016 were prepared in accordance with the international accounting standards (IAS/IFRS).
Consolidated Financial Statements 2016 Compliance Certificate as at the Certification Date 27.06.2016
| FINANCIAL DATA BY YEARS | ||||
| thousands of € | 2015 | 2014 | 2013 | 2012 |
| Value of production | 270,918 | 262,690 | 223,783 | 191,778 |
| EBITDA | 47,239 | 38,911 | 28,542 | 22,288 |
| EBIT | 26,239 | 20,250 | 10,998 | 6,506 |
| Result before tax | 28,633 | 16,257 | 9,027 | 3,383 |
| Net result | 17,376 | 8,844 | 4,915 | 1,428 |
| VALUE OF PRODUCTION BY LINE OF BUSINESS AND YEAR | ||||
| Engineering | 110,751 | 123,730 | 92,076 | 70,014 |
| Integrated Water Service | 143,709 | 137,777 | 130,987 | 121,764 |
| Housing | 13,618 | 1,183 | - | - |
| Real Estate | 2,840 | |||
| ASSET DATA | ||||
| Net fixed assets | 263,623 | 247,256 | 227,505 | 205,785 |
| Net financial position | (89,120) | (102,564) | (99,046) | (130,273) |
| Net assets | 119,807 | 56,044 | 47,200 | 42,285 |
| Capital invested | 208,927 | 158,608 | 146,245 | 172,557 |
| ROS (EBIT/value of production) | 9.7% | 7.7% | 4.9% | 3.4% |
| ROI (EBIT/capital invested) | 12.6% | 12.8% | 7.5% | 3.8% |
| ROE (EBIT/net assets) | 21.9% | 36.1% | 23.3% | 15.4% |
Net revenues, amounting to 271 million €, include 111 million € related to the Engineering sector activities, 144 million € related to the management of the Water Service and 13 milion € related to the management og the Housing sector. 3 million € to the real estate troughe MIR Srl merger.
Revenues generated by the Engineering mainly concerned the development of design assignments and execution of works related to EXPO 2015, supervision of construction of Line 4 of the Milan metro, and the overall supervision of two lots of Line 5.
The Integrated Water Service achieved a positive net result of which was significantly impacted both the increase in consumption than that of the tariffs approved by the Authority for Electricity and Gas Water System.
It 'also continued the process of streamlining process started in previous years which allowed to achieve substantial savings in management costs through the system of internalisation of Milano San Rocco purification.
Particularly important were the investments made during the year 2015, the value of which amounted to about 25 million, has remained at the high levels reached in previous years.
Financial Account 2015 Consolidated Financial Account 2015Financial Account 2014Consolidated Financial Account 2014Financial Accounts 2013Consolidated Financial Accounts 2013Financial Accounts 2012Consolidated Financial Accounts 2012