ITALY - Biesse Group, a global leader in woodworking technology, reported results for the first quarter 2021(1Q-2021). Net revenue from sales and services as at 31 March 2021 amounted to € 161,4 million, up 9.3% on the prior-year period (€ 147,7 million).
As at 31 March 2021, adjusted EBITDA was € 20,5 million (€ 12,4 million as at 31 March 2020), up by 65.9%. Net result (profit) as at 31 March 2021 amounted to € 6,8 million.
As for the breakdown of revenue by operating segment, all divisions recorded an increase, albeit with different trends: the Wood Division increased by 2.0%, the Glass/Stone Division increased by 29.4% compared to the same period in 2020, while the Mechatronic division rose by 36.6%. Finally, the Tooling division increased by 15.2%.
On the sidelines of the meeting the Group´s C.E.O. Roberto Selci commented:
The results approved today, within a framework of persistent instability and uncertainty due to the continuation of the negative effects of the pandemic are undoubtedly promising for the rest of the year and testify to the soundness of the choices made. We are pleased to note the increase in volumes, the improvement in margins in both absolute as well as percentage of revenues terms - and, above all, the cash generation. Net profit has actually more than tripled with respect to 12 months ago.
The virtuous evolution of the order intake and backlog is an important confirmation of the positive momentum the Biesse Group is experiencing. We even expressly evaluated the current first quarter against the comparable 2019 period, precisely to eliminate the impacts of what has occurred during the past 12 months and compare ourselves with a pre-pandemic period.
We recently communicated the strengthening of our international structure, which demonstrates that our development plans have not been slowed down in any way. Our innate propensity for export leads us to follow all the international dynamics and every growth opportunity worldwide very carefully, which we will not fail to seize if there are the conditions and premises consistent with our development plan.”
On 26 February 2021, Biesse S.p.A.’s Board of Directors approved the planned mergers of Viet Italia S.r.l. and Bsoft S.r.l. into the Parent Biesse S.p.A. The mergers will take place by 30 June 2021, with retroactive accounting and tax effect as of 1 January 2021. These operations are part of the new corporate project called “ONE COMPANY”, aimed at rationalising and streamlining the organizational structure across the Biesse Group.
