ITALY – Biesse Group – a leader in technology and machinery for processing wood and other materials – recently reported its financial results for 1Q-2024, which closed with sales revenues of EUR 195.8 million, 6.5% less than the EUR 209.5 million obtained in the same period of the previous year.

The prolonged conflict between Russia and Ukraine and the risk of tensions widening beyond the Israeli-Palestinian area continued to have major repercussions on international markets, both in terms of financial market trends and commodity prices.

EBITDA fell by 39.9%, from EUR 28.0 million in 1Q-2023 to EUR 16.8 million in 1Q-2024; consequently, the margin declined from 13.3% to 8.6%. Biesse ended 1Q-2024 with a net profit of EUR 2.8 million, compared with EUR 12.3 million in 1Q-2023.

Sales turnover by geographic region reveals a 20.9% decrease in Western Europe, while Asia-Oceania and Eastern Europe saw increases of 11.1% and 8.3%, respectively. There was also a noticeable increase in the Rest of the World, while North America remained relatively stable.