(Finance) – In the first nine months of the year, Forestry Chemical Industries he recorded Revenues equal to Euro 57.6 million compared to Euro 60.3 million in the same period of 2023. EBITDA stood at Euro 7.0 million, an increase compared to Euro 6.8 million in the progressive period to September
2023, with an EBITDA margin growth of 12.2%, compared to the progressive 10.8% in September 2023.
Net Financial Debt of the Group is equal to Euro 9.0 million, a progressive improvement compared to both 30 June 2024 (Euro 9.5 million) and 30 September 2023 (Euro 13.9 million). Financial debt includes approximately Euro 8 million relating to debts for the leasing of goods and properties. Therefore, the operating debt to banks, at the end of the period considered, amounted to approximately Euro 1 million.
Guido Cami, President and CEO of Industrie Chimiche Forestalideclared: “The commercial and production activities carried out in the third quarter of 2024 are aligned, as already indicated in the latest Press Release, with what was done during the first half of 2024. The footwear and leather goods sectors continued to suffer due to the slowdown in sales of finished products on the market in all segments: sports, athletic, casual and luxury. The recovery of volumes in the automotive sector and in the industrial applications sector, the maintenance of volumes in the packaging sector and also the increase in turnover of the newly acquired Langè division, compared to the first nine months of 2023, made it possible to almost entirely offset the overall turnover reaching approximately 58 million euros. The control of operating costs and the cost of raw materials has allowed the EBITDA margin to be consolidated above 12%. The investment plan was completed according to the budget and without interruptions. In the months of October and November the activities are in line with what has been done so far in the year”.