ITALY – Biesse’s consolidated order inflow in the first six months of the current year rose substantially (>20%) compared to the same period of 2013.
The company with headquarters in Pesaro pointed out that these results were achieved against an international background that remains marked by uncertainty and instability caused by political and economic unrest and as domestic demand has continued to loose participation in its consolidated revenues. Italy was 10.3% of consolidated revenues compared to 12% at 30 June 2013. This tendency is explained in part by the uncertainty as clients await the incentives proposed by the Government.
The geographical breakdown of consolidated revenues shows a slight decrease in revenues from Western Europe compared to the figure in March 2014 (40.0% compared to 41%) but an increase in revenues from Eastern Europe (21.2% compared to 19.3%) and Asia-Pacific (19.1% compared to 17.7%). North America accounted for 13.2% of revenues (compared to 13.6% at 30 June 2013 and 15.1% at 31 March 2014), but the positive order intake from the US and Canadian subsidiaries on the eve of the important exhibition, IWF in Atlanta to be held on 20-23 August, testifies to the growth phase of this geographic region.
“This is just the start but it is fair to say that things are going reasonably well”, commented the Chief Executive Officer, Mr Stefano Porcellini, “better than the business plan and better than the targets for the key indicators: growth, profitability and cash flow generation. It is important to stress this as many markets remain weak and the results are therefore a reflection of the quality of our products and our personnel. The investments made in innovation, the commercial network and marketing are gradually providing the expected results but we still believe that the best is yet to come”.
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