Group revenues and backlog rose to all-time high respectively by 27.2% to €328.8mn and by 1.4% to 934 million.
Organic growth and the contribution from acquisitions rewarded all three divisions, with particular reference to “MESTIERI high-end interiors division, with doubling sales to €69.7mn.
As margins recovered in 2nd Half 22, Ebitda remained steady at €23.2mn despite the impact of increased prices, in particular in naval and civil contracts. Adjusted consolidated net profit amounted to €1.6mn.
The generation of operating cash, amounting to €14mn, and bank credit, made acquisitions possible, of the likes of Bluesteel, Budri and Lamp Arredo, in addition to growth in the stake of FABBRICA USA.
“I am satisfied with what was achieved in 2022, a so complex year in many facets, starting with the availability of raw materials and the generalized increase in costs and energy – comments SOMEC Chairman Oscar Marchetto -. A 27% growth in revenues and the improvement in margins are signs of support to our strategic direction and confidence in the near future.”
Full press release available at: https://www.somecgruppo.com/en/financial-press-release/