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Gefran announces third quarter 2017 results

November 09, 2017

Revenues in the first nine months of the year totalled EUR 94.1 million, 6.9% higher than in 2016

EBITDA amounted to EUR 13.6 million, representing 14.4% of revenues.

EBIT represented 8.8% of revenues at EUR 8.3 million

Net profit was EUR 6,1 million

Net financial debt was EUR 6.5 million, an improvement of EUR 6.4 million over December 2016

Year-end targets were met

 

Provaglio d’Iseo (BS), 09 November 2017 – The Board of Directors of GEFRAN S.p.A. met today under the chairmanship of Maria Chiara Franceschetti in Gerenzano, Motion Control head office, to approve the results at 30 September 2017.

Revenues for the first nine months of 2017 amounted to EUR 94,151 thousand, up by 6.9% compared to the same period in 2016. Growth was penalised somewhat by exchange rates, which had a negative overall effect of EUR 108 thousand.

The breakdown of revenues by business area in the first half of 2017 shows growth in the Sensors and Components businesses of EUR 6,278 thousand (+16.9%) and EUR 2,350 thousand (+9.7%), respectively. The Motion control market shrank, with revenues falling by EUR 2,565 thousand (-8.6%).

The Group’s Chief Executive Officer Alberto Bartoli commented on the results: “Key economic and financial indicators performed positively in the third quarter of the year, confirming the trends registered in the first part of the year. The relative slow-down in volumes is attributable to the seasonal nature of our line of business, which is typically less active in the second half of the year, and was foreseen in our half-yearly report. Our goals for the end of 2017 remain unchanged: 6% growth in revenues with operating margins slightly higher than the targets set at the start of the year (EBITDA of 12% and EBIT of 6%)”.

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