axélero S.p.A. announced consolidated earnings and production results for the first half ended June 30, 2017. For the period, the company reported EBITDA of EUR 2,864,000 against EUR 5,742,000 a year ago, mainly due to the increase in overhead costs resulting from the new staff recruitment initiated in the second half of 2016, in addition to the effect of the average duration of contracts. In particular, in the first half of the year, high-profile figures were hired in view of the Group's strategic development. EBIT was EUR 462,000 against EUR 3,192,000 a year ago. Profit before taxes was EUR 254,000 against EUR 3,163,000 a year ago. Group net profit was EUR 103,000 against EUR 1,956,000 a year ago. Net profit from operating activities was EUR 102,724 against EUR 1,955,609 a year ago. Net cash flow from operating activities was EUR 6,098,106 against EUR 12,407,006 a year ago. Acquisition of tangible assets was EUR 92,622 against EUR 378,210 a year ago. Acquisition of intangible assets was EUR 1,833,609 against EUR 1,229,077 a year ago. Consolidated revenues were EUR 21.0 million compared to EUR 23.3 million a year ago, due to the new mix of products launched in the second quarter of 2017, which has yet to reach its full potential.

For the period, the company reported production value of EUR 21,021,000 against EUR 23,263,000 a year ago.