2022 Consolidated Financial Results at 31 March approved
The Board of Directors of Biesse S.p.A. approved the Consolidated Financial Report of the First Quarter 2022.
Consolidated results: Results achieved by Biesse in the first 3 months of 2022:
Consolidated net sales 196.6 mln of euro (+21.8% vs the 31/3/2021)
Value Added 87.4 mln of euro (+14.4% vs the 31/3/2021) incidence 44.5% (47.3% in IQ 2021)
EBITDA 26.1 mln of euro (+27.1% vs the 31/3/2021) incidence 13.3% (12.7% in IQ 2021)
EBIT 15.1 mln of euro (+33.9% vs the 31/3/2021) incidence 7.7% (7.0% in IQ 2021)
Net Profit 9.8 mln of euro (+43.2% vs the 31/3/2021) incidence 5% (4.2% in IQ 2021)
tax rate 27% (27.6% in IQ 2021)
The results of the first quarter of 2022 appear positive, even beyond our expectations - commented Pierre La Tour, Group CFO. Starting from the 2020 second half we noted an important demand for durable goods that is characteristic of an expansionary phase even if, nevertheless, the international context is highly unstable and full of uncertainties. The order intake of the IQ 2022 is showing a significant growth vs the 2021 and even vs the 2019 and our order book (only machines) is continuing to be record (409 million euros at the end of March), projecting consequently an average production visibility up to around 6 months.
Concerns linked to geo-political tensions, the constant inflation of the main logistics costs and increases in the cost of raw materials prices require a cautious and prudent attitude to be adopted, also in light of a deterioration in the main world indicators (i.e. downward revision of growth estimates) and the concrete consequences of the sanctions. However, the expansion of the turnover, the improved operating margins and the net profit strong increase are a clear sign of how the Group
is doing its best to tackle this highly volatile phase. We want to continue striving for greater efficiency in the future, acting on the factors we directly control, in order to mitigate the pressure on the costs. We even take note of a confirmed more than comfortable financial/equity situation that can support our plans”.
The full press-release is available on biessegroup.com, Investor Relations area.