Q1 2021 Maire Tecnimont SpA Earnings Call Transcript
Good afternoon. This is the Chorus Call conference operator. Welcome, and thank you for joining the Maire Tecnimont's Q1 2021 Financial Results Presentation. (Operator Instructions)
At this time, I would like to turn the conference over to Mr. Pierroberto Folgiero, Chief Executive Officer of Maire Tecnimont. Please go ahead, sir.
Good afternoon, everyone. Thank you for attending the first quarter 2021 financial results conference call. As we leave 2020 behind us, we recorded another solid financial performance in Q1 with over EUR 625 million in revenues and the profitability in line with our annual guidance of 6%.
Net income was EUR 17.7 million, up 62.3%. Cash flow generation has continued in the first quarter, leading to a further improvement in the net financial position. As a matter of fact, our net debt has decreased by over EUR 264 million over the last 12 months. This is a tangible sign of our strong financial position. Our commercial activities are running
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