Wednesday, November 30, 2022
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Biesse Group continues to grow in Q3, the Pesaro-based group specialising in woodworking solutions. Recently, the group’s board of directors has approved the consolidated financial report to September 30, 2022. Net consolidated revenues increased by 16.4 percent compared to the same period of 2021, reaching EUR 613.4 million, while added value stood at EUR 255.7 million (+10.1 percent to 2021). As a percentage of revenues, it stood at 41.7 percent, while gross operating profit (Ebitda) exceeded EUR 70.8 million (plus 14.4 percent), with an Ebitda margin of 11.5 percent (11.7 percent to end-September 2021). Operating income (EBIT) before non-recurring events also rose sharply, reaching EUR 42.6 million (plus 34.2 percent compared to the same period in 2021), with a revenue margin of 6.9 percent. Net profit came close to EUR 25 million (EUR 24.8 million), with a revenue margin of 4.0 percent.
Positive numbers were also reported for the third quarter, which recorded consolidated net revenue of EUR 194.3 million (up 12.4 percent compared to Q3 2021) and value added of EUR 74.2 million (in line with Q3 2021), with a revenue margin of 38.2 percent. The gross operating margin (Ebitda) exceeded EUR 17 million with a revenue margin of 8.8 percent.
On the sidelines of the Board of Directors meeting, the Group CFO Pierre La Tour commented: “The persistent international uncertainties and instability do not allow us to project positive scenarios for the immediate future, despite the brilliant economic and financial performance achieved in the nine months of this year. The tensions concerning the main raw materials and the increased cost of energy are obvious distorting factors that cannot but have impacts on our results. To complicate, the forecast of a substantial slowdown in demand and the reappearance of the inflation that may leads to increases in interest rates.
There are also inevitable negative repercussions – both direct and indirect – arising from the sanctions applied to the countries involved in the conflict in Eastern Europe, while it is becoming increasingly necessary to monitor epidemiological developments worldwide.
Internally, we are continuing with the implementation of the One Company project, because we believe that a re-organization of the Group structure also introduces greater flexibility stimulating rapid simplification of the business processes. The permanently positive net financial position supports our decision to continue investing in the product development; we will invest in implementing new technical solutions that focus on increasing connectivity and automation”.
Tags: Biesse Group, Biesse Inside, CFO Pierre La Tour, wood, wood and panel, woodworking and manufacturing, woodworking event, woodworking industry, woodworking UK
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