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.
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.
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