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GEFRAN S.p.A. Board approves the consolidated financial statements and will propose distribution of a dividend of euro 0.32 per share to shareholders

14 de marzo de 2019

 

  • Revenues of EUR 135.6 million (+5.4% over 2017)
  • EBITDA positive by EUR 20.1 million (+5.4% over 2017)
  • EBIT positive by EUR 13.7 million (+23.3% over 2017)
  • Net profit of EUR 8.2 million (+18.8% over 2017)
  • Net Financial Position negative by EUR 4.5 million (in line with the figure for 2017)
  • The Board of Directors will propose distribution of a dividend of Euro 0.32 per share to shareholders

 

Revenues as of 31 December 2018 amount to EUR 135.6 million, as compared with revenues of EUR 128.6 million in the same period in 2017, registering EUR 6.9 million in growth (+5.4%).

The breakdown of revenues by geographic area reveals significant growth over the year 2017, in Italy (+9.9%), in the European Union (+5.3%) and in Asia (+4.6%), thanks to the positive trend in the sectors the Gefran Group serves. The American market reveals more limited growth (+1.4%) due to the unfavourable trend in exchange rates. The breakdown of revenues by business area shows growth in all business areas: +5.9% for sensors, +4.8% for automation components and +7.9% for motion control.

Consolidated EBITDA for the year 2018 amounts to EUR 20.1 million (EUR 19 million as of 31 December 2017) and represents 14.8% of revenues, 1 million Euro higher as a result of growth of revenues resulting in greater added value.

Consolidated EBIT as of 31 December 2018 is positive by EUR 13.7 million, representing 10.1% of revenues, as compared with an EBIT of EUR 11.1 million in the same period in 2017.

Group net profit as of 31 December 2018 is positive at EUR 8.2 million, as compared to a net profit of EUR 6.9 million in 2017, a growth of 1.3 million.

Net financial position as of 31 December 2018 is negative by EUR 4.5 million, aligned with the value registered at the end of 2017, when it was negative by EUR 4.8 million. Net financial debt comprises short-term cash and cash equivalents of EUR 7.2 million and medium-/long-term debt of EUR 11.7 million.

This change in net financial position was mainly due to positive cash flows from ordinary operations (EUR 19 million), absorbed by technical investments in the period (EUR 9.4 million), dividends distributed (EUR 5 million) and payment of taxes (EUR 3.7 million).

The Group’s Chief Executive Officer Alberto Bartoli commented on the results: “I’m particularly satisfied with the results obtained by the Gefran Group in 2018, in terms of growth of both sales and margins, which largely exceeded our expectations at the beginning of the year. Besides the annual results, I wish to emphasise that we are laying the foundations for the Gefran of tomorrow, with a further increase in planned investment and the search for qualified personnel in all the areas where we operate.

The year 2019 appears to be characterised by an overall climate of uncertainty. Nevertheless sales remained substantially stable in the first two months, with a non-significant drop in the order portfolio for the next few months.

Thanks to the diversification of our geographic presence and to our technological know-how, we expect to exceed the positive results of the previous year in terms of revenues, with profit margins in line with those of the previous year or slightly lower, also as a result of the investments mentioned.”

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