Nice SpA announced audited consolidated earnings results for the half year ended June 30, 2013. For the period, the company reported net sales were €133.6 million against €139.5 million a year ago. EBITDA was €22.4 million against €27.7 million a year ago. EBIT was €18.7 million against €23.6 million a year ago. Profit before tax was €15.6 million against €22.4 million a year ago. Net income was €8.6 million against €14.2 million a year ago. Group net income was €8.6 million against €14.4 million a year ago. Net debt as of June 30, 2013 was €5.4 million against net cash of €3.4 million as of December 31, 2012. Operating cash flow was €5.3 million against €15.4 million a year ago. Capex was €3.9 million against €3.9 million a year ago.

The company expects an increase in profitability in the second half of the year 2013, due to a strict cost control policy and the rationalization of distribution in France.

During this meeting, the Board of Directors of the company, following the resignation of Luigi Paro from his office as Chief Executive Officer effective August 31, 2013, co-opted Mauro Sordini. He was appointed as Chief Executive Officer of the company effective September 1, 2013 and was given the relevant duties and powers. Mr. Mauro Sordini was also appointed as executive director in charge of the internal audit system.