Financial Statement

Balance Sheet
Assets
(in thousands of Euro)	31 agosto 2008	31 agosto 2007
A) Non-Current assets
Property, plant and equipment	30.080	29.127
Intagible assets	11.573	7.151
Financial assets	28	8
Shareholdings in associates	312	312
Financial assets at fair value	67	15
Deferred tax assets	8.021	2.881
Other non-current assets	314	614
Total non-current assets	50.394	40.108
B) Current Assets
Inventories	45.418	38.158
Contract work in progress	4.208	9.106
Trade receivables	29.860	59.226
Other current assets	20.546	15.301
Tax receivables	676	239
Cash and cash equivalents	4.590	6.549
Total current assets	105.298	128.579
Total assets	155.693	168.687

EQUITY AND LIABILITIES
(In thousands of Euro)	31 agosto 2008	31 agosto 2007
A) Shareholders' Equity
Share capital	2.180	2.180
Reserves	33.791	34.556
profit (loss) brought forward	-969	22.365
Shareholders' equity attributable to the Group	35.002	59.101
Shareholders' equity attributable to Minority Interests	0	0
Total Shareholders' equity	35.002	59.101
B) Non-current liabilities
Long-term borrowings	19.763	9.938
Employee benefit liability	731	717
Deferred tax liabilities	2.592	3.268
Provisions for risk and charges	3.312	2.102
Other non-current liabilities	5.402	7.221
Total non-current liabilities	31.800	23.246
C) Current liabilities
Trade payable	33.908	45.853
Short-term borrowings	46.753	28.460
Other current liabilities	4.949	5.338
Tax payables	3.282	6.690
Total Current liabilities	88.891	86.340
Total Shareholders' Equity and liabilities	155.693	168.687

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