ITALY – The Board of Directors of Biesse S.p.A. has approved the updated version of the Group business plan covering the three years 2018-2020, which will maintain a strong focus on investments in innovation, services and marketing / commercial activities.

According to the plan, sales revenues are estimated to grow an average of 9.5% yearly and to reach EUR 906 million in 2020 with an EBITDA margin of 14%. As 2017 came to an end, Biesse reported sales of € 690.3 million, up 11.6% over the 618.5 million in sales reached in the previous year.

“The business plan is based on the excellent results of the 2017 financial year”, commented the Director General, Mr Stefano Porcellini, “that demonstrated growth in consolidated revenues +11.6% vs 2016, an increase in operating profitability and strong cash flow generation, EBITDA margin of 12.9%, which gave the Group a positive net financial position of more than EUR 30 million. Today we have approved a plan that is a continuation of the preceding plan and is based exclusively on organic growth.”