ITALY – The Biesse Group sales for the first six months of 2016 reached  EUR 283.4 million, up by 15.4% compared to the prior-year period (EUR 245.5 million). In the first half of 2016, EBITDA amounted to EUR 30.4 million, growth of 4.8% compared to the same period of 2015.

“It is worth highlighting the extraordinary ability of the Biesse Group to generate organic revenue growth (+15.4% year-on-year in the first semester 2016) despite the existing political and economic turbulence“ commented Mr. Stefano Porcellini Executive member of the Biesse Board of Directors and Group General Manager.  “The problems in Turkey and the negative implications – in terms of volatility – of Brexit have now been added to those caused by the recessions in Brazil and Russia. Nevertheless we have achieved an increase of 16.1% in order intake (compared to 30 June 2015) and a record order backlog (of over Euro 178 million). This is largely due to the untiring efforts made to improve the distribution network in recent years and to our reputation, which has never been stronger, for product innovation and reliability.”

Mr. Porcellini also highlighted Biesse’s position in the industry: “As the leading Italian group in machinery for working wood, glass and stone and the second largest company in the sector worldwide in terms of revenues with growth that is significantly higher than that of our German competitor”.

To meet this sudden growth – as seen in the sharp +24.9% year-on-year increase in revenues in the second quarter of 2016 – the Pesaro based company also announced an increase in investments in personnel. This decision will lead to an increase in personnel costs in 2016 as 150 new jobs planned for 2017 in the industrial and services areas have been brought forward. This could imply a small downgrade to profit forecasts for the current financial year but they remain in line with the medium-term targets in the three-year industrial plan.

Biesse Group Results January – June

Million EUR