MILANO (AIMnews.it) - The Piteco Shareholders' Meeting has approved the 2017 financial statements, resolved a dividend of 0.15 euros per share and elected the new Board of Directors (the Chairman Marco Podini, the CEO Paolo Virenti, Riccardo Veneziani, Gianni Camisa , Andrea Guido Guillermaz, Maria Luisa Podini, Annamaria Di Ruscio, Francesco Mancini) who will remain in office until the approval of the 2020 budget. Finally approved the amendments to the bylaws, preliminary to and related to the request for admission to listing of shares and convertible bonds on Mta. Piteco closed 2017 with revenues up 21% to 17 million euros and a 46% increase in revenues from recurring fees. Ebitda stood at 6.5 million (+ 15%) with a margin of 38%. Finally, net profit was down 25% to € 3.4 million due to accounting reasons, extraordinary expenses relating to the acquisition of the business unit in the USA and unrealised exchange rate losses. The net financial position is negative with 6.5 million euros.