Cefla 2019 consolidated financial statements see further growth
The Imola-based group’s revenues exceed 585 million euros while EBITDA increases to approximately 51 million euros.
The 2019 consolidated financial statements confirm a further positive year for the Cefla Group and its 5 Business Units (Engineering, Shopfitting, Finishing, Medical Equipment and Lighting). Despite last year’s economic slowdown, the Imola-based group continued its development path through a strategy of investments aimed at strengthening its competitiveness in key markets.
Total revenues exceeded 585 million euros (+5% on 2018), of which more than 50% was generated by exports. Margins also performed well with EBITDA rising to around €51 million, largely driven by the Engineering, Medical Equipment and Finishing (coatings) BUs which consolidated and strengthened their 2018 results. The recently-created Lighting BU posted growth in revenue in 2019, whereas the Shopfitting BU suffered a contraction, in response to which the Group has implemented initiatives aimed at reversing the trend in the reference market.
The Group’s Net Financial Position showed a positive balance of 38 million euros at the end of the year, a further improvement on the 22 million euros of 2018. Net profit amounted to 27 million euros.
Again in 2019, the more than 600 intellectual property rights, patents, trademarks and designs benefited from the Revenue Agency’s Patent Box tax concession scheme in recognition of the company’s constant commitment to research and development.
The 2019 Financial Statements were approved at the Shareholders’ Meeting, where the new General Manager Paolo Bussolari was officially presented. He has been working at Cefla since 2001 and was appointed head of the Medical Equipment BU in 2013. He has been at the helm of the Imola Group since March 2020.