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Carbures approves to operate on the Continuous Market in 2018

Carbures approves to operate on the Continuous Market in 2018

The Board of Directors of the Company has approved to initiate the necessary procedures to leave the Alternative Stock Market and to be listed on the Continuous Market in 2018. This decision will be submitted to the General Shareholders Meeting of the Company for final approval.

In addition, Carbures has presented the audited financial results of the first half of the year with three clear indicators of its healthy balance sheet and that follows the roadmap marked in its process of consolidation and organic growth: the Company has closed the first half of the year with a turnover of 40.3 million euros, 33 percent more than that registered in the same period last year (30.2 million). In line with its business consolidation process, Carbures has managed to increase its recurring EBITDA by 63.6 percent, from -1.5 million in the first half of 2016 to one of -0.5 million euros in the same period of 2017. A similar improvement has been achieved in relation to net debt, which has been lowered by almost 43 percent, from the 106 million debt it had at the end of 2016 to 60.8 million at the end of the first half of 2017. The President of Carbures, Rafael Contreras, indicates: "Our results show that, on an industrial level, Carbures is on the right track. The data presented today improves very clearly those obtained a year ago and we expect to continue growing throughout this year and the next ones ".

Jump to the Continuous Market

The Board considers that the Company has reached a degree of maturity and volume such that what is appropriate at this time is to initiate the procedures for listing on the continuous market in 2018. The Company's Executive Chairman, Rafael Contreras, considers that "the stage in the MAB it is already covered as a market for small and medium enterprises. We already have a new business reality as a Company. Our industrial capacity is very different, our internal structure is very reinforced, and we enjoy a solid global positioning as a manufacturer of parts in composite materials for aircraft, cars, trains and civil works. "

Carbures takes time preparing internally, structurally, to meet the greater demands derived from the quotation in the Continuum. In this sense, it has reinforced its management team in 2017 with the additions of Borja Martínez-Laredo, as CEO, and Jorge Moreno, as CFO, Chief Financial Officer, last September. The Company thus complies with its roadmap and with the highest requirements determined by the corporate governance standards, already adjusted to the requirements of the National Securities Market Commission (CNMV) with the intention to quote in the Continuous Market. The CEO of Carbures, Borja Martínez-Laredo, affirms that: "To operate in the Continuous Market will bring us greater prestige and transparency, and it will also open us access to another type of investor, the institutional one, and it will generate a greater coverage by investment banks. "

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