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Consortium Services Costa Smeralda S.p.A., approved 2017 Balance Sheet

Consortium Services Costa Smeralda S.p.A., approved 2017 Balance Sheet - News - Consorzio Costa Smeralda - News - Consorzio Costa Smeralda
06 June 2018

PORTO CERVO: Revenues up 10,639,079 euros, up 9% compared to 2016; a continuously improving financial framework, 5,425,250 euros for personnel costs and 185,505 euros for taxes paid. These are the fast facts for 2017 Servizi Consortili Costa Smeralda S.p.A budget, the operating service company of Consorzio Costa Smeralda. The company - known as Sccs SpA and registered in Porto Cervo, represents the operating structure of the Consortium, 100% controlled by it, presides, organizes and promotes all the services for consortium: Services Supervision, Infrastructure Management, Water cycle management, Road infrastructures (roads and street appurtenances), Environmental Protection Services (management of green areas and street cleaning), Fire Services, Medical Services and Office Relations with Consortium Members. In addition, the company is also active in the alarm systems for third parties. A wide range of action, grown and consolidated over the years.
On the revenue side of Consorzio Costa Smeralda SpA, about 60% derives from the fees paid by the consortium members, in all 3,800, and the remaining 40% from the other activities carried out. "The company's goal is not only to make profits, but also to offer services of high professional quality, together with the containment of management costs, ensuring technical-administrative assistance that arises from a long experience in the sector", comments Massimo Marcialis, General Manager of Consortium.
On the economic front, 2017 closed with revenues of 10,639,079 euros, an increase of 9% compared to 2016. Production costs amounted to 10,436,633 euros, also an increase compared to the previous year (+ 9 %). Profit before taxes was 332.371 euros, while profit after taxes was 146.866 euros. Income taxes amounted to € 185.505.
During 2017, the company employed 175 workers, 61 of which on permanent contracts and 114 on fixed-term contracts, with a minimum contract of five months for the latter. The cost of personnel was 5,425,250 euros, almost 100% in favour of Sardinian workers or residents in Sardinia, a figure that represents half of the company's revenues.
On the financial front, the company's liquid assets as at 31 December 2017 amounted to 663,592 euros versus 40,007 euros as at 31 December 2016, while loans to customers amounted to 7,235,620 euros against 8,279,382 euros in 2016. Payables due to banks fell from euro 1,723,233 in 2016 to euro 1,326,417 in 2017. Also payables to suppliers decreased from euro 1,584,418 in 2016 to euro 965,396 in 2017.
As operating service company of Consortium, Servizi Consortili Costa Smeralda S.p.A. it will have to carry on also the realization of the remarkable investments as signed in the convention of last May 22 with the Municipality of Arzachena. Over the next ten years, Consortium has committed itself to € 110 million spending in infrastructure works with the aim of making the services offered by the Costa Smeralda extremely high.

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