(Finance) – Biessea multinational listed on Euronext STAR Milan and active in the technology for processing wood, glass, stone, metal and composite materials, has closed its first nine months of 2024 with net revenues consolidated amounts of 560.8 million euros, down 5.9% compared to the same period of 2023.EBITDA was 44 million euros (-29.8%), with an incidence of 7.9% (vs. 10.5%), while thenet profit equal to 2.6 million euros (-83.9%).
“The results achieved during the first nine months of the year and approved today – comments the CFO Nicola Sautto – reiterate how the prudent strategy that Biesse is pursuing is the most suitable for maintaining positive profitability in a economic and financial context which remains decidedly complex. In terms of revenues, the first nine months of 2024 maintained a decreasing trend, in line with our forecasts.”
“From a business point of view, the order book at the end of September 2024 is substantially in line with that of December 2023, standing at a value of 276 million euros, positively influenced by the acquisition of the GMM group (towards a value at 31/ 12/2023 of 278 million), in a context of general slowdown in order intake which had already started in 2023 following the exhaustion of the incentives launched during the pandemic, which brought the demand for capital goods to extraordinary levels especially on the Italian market”, he added.
“Significant difficulties remain in forecasting global demand and the external factors that influence it, such as the prolongation of restrictive monetary policies which are reflected in the level of interest rates and which are only recently showing signs of easing, the reduction of government incentives and last but not least, the strong geopolitical tensions – said the CFO – We expect that i fourth quarter results are substantially in line with what was achieved on average in the first three quarters of 2024, both in terms of turnover and operating margin”.
As of September 30, 2024 the Net Financial Position of the Group was positive for 4.2 million euros. Considering the effects linked to the application of IFRS16, the impact of which is estimated at 32.3 million euros, the Net Financial Position is, taking this accounting standard into account, negative for 28.1 million euros. In comparison with 12/31/2023, the position decreases by 121 million euros.