MILAN ( – The Fedon shareholders’ meeting approved the 2017 financial statements which closed with total revenues down by 5% to 69 million euros; EBITDA stood at 2.2 million (against 5.1 million in 2016) and the net loss was 4 million euros. Net financial debt is 7.3 million, with equity of 14.7 million. The shareholders then gave the green light to the buy back plan with a maximum of 380.000 shares (at present the company holds 21.138 treasury shares, equal to 1.11% of the share capital). The Board of Directors of the group has then assigned the delegated powers of chairman to President Callisto Fedon, while Maurizio Schiavo has been entrusted with “the task of implementing, until the end of the mandate, the group’s Industrial Policy with the specific objective of coordinating the entire relocation project of the Shenzhen factory in another location in China and possible M & A activities in Southeast Asia, aimed at reaching the group’s profitability targets for the next few years, in tune and in support of the Director of Operations”.