ITALY – The Biessse Group, a global leader in wood processing technology, reported sales of EUR 344.2 million in the first six months of 2019 (6M-2019), a 3.5 percent decline compared to EUR 356.6 million in the same period 2018.

The company’s EBITDA In 6M-2019 was down 12.6 percent as it reached EUR 38.0 million and compared to 6M-2018 (EUR 43.5 million). Profit in 6M-2019 was EUR 10.4 million, a -39.9 percent drop compared to EUR 17.2 million in 6M-2018.

Stefano Porcellini – Group General Manager – commented on the results: “The demand in our sectors of reference is slowing down, – as punctually described in the press release of last 21 June -. Instrumental assets market figures, and more in particular the machinery industry segment, as well as our own listed competitors and peers, publish data on order intake that is negative for 15-20% compared to 2018 first half. Biesse will handle this phase with great balance and maturity; it will certainly see its profits partially impacted by the effects of the decline in volumes, but will continue to produce profits, albeit to a lesser extent, in a context – moreover – of an absolutely marginal financial debt position. It is clear that we will carefully monitor the dynamics of costs and cash, but – thanks to our financial capacity – we will not slow down the investments in innovation that will allow us – as has always happened in the last 20 years – to restart better and stronger, as the first signs of an expansionary phase re-emerge.”