Safilo Board of Directors approves 2007 Financial Statements

柘城眼镜

The results of financial year 2007 have been confirmed:
• Net sales of Euro 1,190 million, +6.1% (+10.2% at constant exchange rates)
• EBITDA of Euro 175 million, +7.9% (14.7% of sales)
• Operating profit of Euro 137 million, +9.3% (11.5% of sales)
• Net income of Euro 51 million, +36.2% (4.3% of sales)
• Financial position of Euro 515 million (Euro 532 million at end 2006)
• Positive free cash flow of Euro 10 million (Euro -31 million in 2006)
• Dividend proposal of Euro 0.085 per share (Euro 0.02 per share in 2006)
The Board of Directors of Safilo Group S.p.A. examined and approved the consolidated financial statements for 2007, which confirm the preliminary data examined and announced February 22. The Board also approved the draft financial statements as at December 31, 2007?, which will be presented for approval at the first and second Shareholders’ Meeting April 28 and 30, respectively.
Based on the results achieved, the Board of Directors resolved to propose to the Shareholders’ Meeting the distribution of a dividend of Euro 0.085 per share, with coupon detachment May 12, 2008, and payment May 15, 2008.
The proposed dividend underscores the considerable 48% increase in the pay-out ratio.
The Board also approved the Corporate Governance Report for financial year 2007.
The draft financial statements and the consolidated financial statements as at December 31, 2007 are now available in the Financial Documents section of the website.
Shareholders’ Meeting
The Meeting will be called to deliberate the approval of the financial statements as at December 31, 2007, the distribution of profits and the appointment of the Board of Directors and Board of Statutory Auditors. The notice of call of the ordinary meeting is available in the introduction page of the website. At least 15 days before the date fixed for the first meeting, the Directors’ report on the proposals listed in the Meeting agenda will also be available to the public.
Predictable operational developments
<p><font face="Times New Roman"size="3">As announced February, Safilo estimates that growth in 2008 billings will be between 4% and 5% (at an average annual exchange rate of