(Finance) – Marzocchi Pumpsa company listed on Euronext Growth Milan and active in the field of high-performance gear pumps and motors, closed on 2024 with consolidated net revenues equal to 40.04 million euros, down 19.5% compared to the figure for 2023, the year in which the group reached the all-time high of 49.7 million.
This decline, lower than the trend of the sector, is influenced by general slowdown of European and American industry and will induce the group to take initiatives to rationalize the company’s workforce during the 2025 financial year, we read in a note.
THE’net financial debt (calculated also including three- and six-month time deposits) is equal to 5.8 million euros, a slight increase (9.4%) compared to 31 December 2023 (5.3 million), but down by 17%. compared to 7 million recorded at 30 June 2024; this reduction is substantially due to lower working capital resulting from the reduction in warehouse stocks.
“There is no doubt that the company, in line with the market, is affected by a recessionary economic phase which is heavily affecting the industrial sector throughout the world, and in particular the Automotive sector in Europe – commented theCEO Gabriele Bonfiglioli – This situation has been exacerbated by the conflicts in Ukraine and the Middle East, resulting in a situation of uncertainty and reduced expectations of a short recovery.”
“Faced with this context, certainly not attributable to corporate initiatives, the need to reorganize our structure, to adapt it to the current and foreseeable future economic and operational conditions, cannot be postponed – he added – We therefore considered necessary to start a reduction in the workforceaimed at ensuring greater efficiency and rationalization of resources, with the aim of maintaining our level of competitiveness on the market unchanged”.