ITALY – The Biesse Group, a global leader in wood processing machinery and technology, reported results achieved in the first 3 months of 2022 (1Q-2022). Consolidated net sales reached EUR 196.6 million and increase of 21.8% compared to the 1Q-2021(EUR 161.4 million).
In the 1Q-2022 Net Profit was up 43.2% compared to the 1Q-2021 reaching EUR 9.8 million.
“The results of the first quarter of 2022 appear positive, even beyond our expectations”, commented Pierre La Tour, Group CFO, on the sidelines of the recent Board of Directors meeting. “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 1Q-2022 is showing a significant growth vs the 1Q-2021 and even vs the 1Q-2019 and our order book (only machines) is continuing to be record (EUR 409 million 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.”
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