ITALY - The Biesse Group, a global leader in the technology for processing wood, reported results for the 1Q-2023. Sales revenues reached of EUR 209.5 million a 6.6 percent increase compared to the 1Q-2022 (EUR 196.6 million).

EBITDA in the 1Q-2023 was EUR 28.0 million an increase  of 7.2 percent compared to 1Q-2022 (EUR 26.1 million). Net profit reached EUR 12.3 million 26.4% more than in the 1Q-2022 (EUR 9.8 million).

“The results achieved during the first quarter and approved – commented the Group CFO Pierre La Tour – bear testimony to how Biesse has taken full advantage of the global demand for capital goods during 2022, closing the year with a sustained order portfolio that will reflect on 2023 revenues". He added "it is necessary to adopt a prudent approach for the future outlook. Demand projections are complicated by enduring restrictive monetary policies that are directly impacting interest rates, combined with the ceasing of government incentives that have stimulated domestic market demand over recent years".

Geographically, the Group’s sales breakdown by macro-area at the end of March 2023 is: Western Europe 55.7% – of which Italy 21.5% , Eastern Europe 13.1% , North America 17.6%, Asia Pacific 11.4%, Rest of the World 2.3%.

In 1Q-2023 order entry of machines  was down 25.1 percent compared to 1Q-2022, as a result of ceasing government incentives on the domestic market.