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Carbures reinforces its corporate governance structure

Appoints two directors: of Legal Affairs and Compliance, Markets and Communication

• The company creates a Legal Affairs Department and a Compliance, Markets and Communication Department, putting an expert at the head of each one.

• The appointments are part of the efforts to meet the need to accompany Carbures' industrial growth with that of the Corporate Governance areas.

Madrid, 27 October 2015. Carbures has reinforced its corporate governance structure to balance it with its growth as a company and, thus, meet the structural corporate excellence requirements imposed by the market and the stock exchange in this area. To do so, the Carbures Board of Directors has created the Legal Affairs Department and the Compliance, Markets and Communication Department and has put Tomás Rodriguez Peñamaría and Juan Ignacio Peinado, respectively, at the head of each.

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CARBURES ALLIES WITH 2elle-engineering TO MANUFACTURE CARBON RIMS

The companies design new carbon wheels with the objective of manufacturing in 2017

• The Spanish company and the Italian engineering design new carbon fiber wheels and produce the prototypes with the objective of production in 2017  

• There are two types of design: one of hybrid wheels of aluminum and carbon fiber that reduces weight by 30 percent compared to the lightest metal ones. And another design, only of carbon fiber, which lowers the weight 45 percent, almost half.

• The manufacturing processes of Carbures, fully automated with linears of in-house technology, raise production to allow long series of 30,000 units per year.

Madrid, October 8, 2015. Carbures advances in the automotive industry. The company specialized in manufacturing vehicle’s structures and parts of carbon fiber, has signed a contract with the Italian company 2elle engineering establishing the development of the manufacture of car rims of two types: a hybrid one, made of aluminum and carbon fiber, meaning a reduction of weight of 30 percent compared with the traditional metal ones; and another ones only of carbon fiber, whose weight reduction reaches 45 percent. Both companies have set themselves the goal of industrially manufacture at a rate of 30,000 units per year from 2017.

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Black Toro Capital invests 30 million in Carbures

New sign of confidence in the Company’s business and industrial growth plan  

 •Black Toro Capital’s investment amounts to 40 million Euros in the Company so far this year with the aim of promoting its industrial growth.  

•Before the 20th October, Carbures will decide which financial formula to execute in order to make the investment effective: an increase in capital or a loan convertible in shares  

Madrid, 1st September 2015-. Black Toro Capital (BTC) reiterates its confidence in Carbures as a strategic financial partner. The investment fund specialised in the growth of medium-sized Spanish businesses, which currently holds 7.04 per cent of Carbures’ capital, has signed a new investment agreement with the industrial group specialised in the manufacture of parts and structures using compound materials, such as carbon fibre, for which it will invest 30 million Euros in the Company before the 20th October.

According to the signed agreement, BTC’s contribution of 30 million Euros will be

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Carbures increases its revenue in the first six month period by 41%

The EBITDA improves by 57%, leaving it at -2.6 million, forecasting 2.8 million by the closing of this financial year.

• The Group gets its financial situation back on track, due fundamentally to an increase in sales in the aeronautic sector and it raises its operating revenue to 30.2 million Euros.  

• The Company foresees that it will close this financial year with financial equilibrium with an EBITDA of 2.8 million Euros.  

In Madrid on the 30th of September 2015. In Madrid on the 30th of September 2015. Carbures gets back on the right track and expects to finish the year close to financial equilibrium. The Industrial group, specialised in the manufacturing of pieces and structures made from carbon fibre, invoiced 28.6 million Euros in the first six month period of 2015, a growth of 41% in comparison to the sales carried out during the same period in 2014 (20.2 million). The operation revenue has risen to 30.2 million Euros, 38% more than in the first six month period of the previous year. In addition, Carbures has improved its EBITDA for the first six month period, leaving it at -2.6 million, 57% better than the -6.2 million of the same period in the previous financial year.

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Pricewaterhouse has completed the audit for the first half of 2014 of Carbures providing an unqualified report

The company will finish 2014 with a consolidated revenue of around EUR 60 million, a 300 % increase, and expects to comfortably exceed the EUR 100 million in 2015.

- There will be no need for the company from Cádiz to restate the financial statements pertaining to 2013, but merely to update them, according to the auditor.

- The auditor recognizes the validity of the applied accounting method of the transaction with Shenyan Hengrui. However, PwC has recommended to change it. The company accepts the suggestion and will allocate it proportionately over the entire contract period.

- As a consequence of the changes in the statements, the transaction with Ansal will be accounted in 2014.

The connection with Sinatec and Materiable was already included in the statements for the years 2011 and 2012.

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