ITALY - The Biesse Group, a world leader in wood processing machinery and technology, reported results for the first 9 months of 2022 (9M-2022).
Consolidated net sales reached EUR 613.4 million compared to EUR 527.0 million in 9M-2021, an improvement of 16.4 percent .
EBITDA in 9M-2022 amounted to EUR 70.8 million, 14.4 percent higher than in 9M-2021. EBITDA margin fell slightly to 11.5 percent, versus 11.7 percent in 9M-2021.
In 9M-2022, Net Profit decreased 29.9 percent compared to 9M-2021, reaching EUR 24.8 million.
On the 3Q-2022 results, Biesse CFO Pierre La Tour commented "Persistent international uncertainties and instability do not allow us to project positive scenarios for the immediate future, despite the brilliant economic and financial results obtained in the nine months of this year.
Tensions regarding the main raw materials and the rising cost of energy are obvious distorting factors that cannot fail to have an impact on our results. Complicating matters is the forecast of a substantial slowdown in demand and the resurgence of inflation, which could lead to interest rate hikes.
There are also inevitable negative repercussions - both direct and indirect - from the sanctions imposed on the countries involved in the conflict in Eastern Europe, while epidemiological developments around the world are increasingly necessary to monitor.
Internally, we continued to implement the "One Company" project, because we believe that a reorganization of the Group's structure also introduces greater flexibility that stimulates a rapid simplification of business processes.
The permanently positive net financial position supports our decision to continue investing in product development; we will invest in the implementation of new technical solutions focused on increased connectivity and automation."
