Carraro extends Plan target with strong increase in turnover and profitability

Carraro extends Plan target with strong increase in turnover and

(Finance) – Carrarocloses the first semester with a consolidated turnover equal to 425 million euros up by 15.1% compared to the same period of financial year 2022. EBITDA as of 30 June 2023 it is equal to 40.2 million Euros (9.5% of turnover), strong increase (+54.1%) compared to 30 June 2022 (it was equal to 26.1 million euros, 7.1% of turnover).

It occurred in the first half of 2023 a further acceleration in investments of the Group with the main aim of supporting the increase in the production and technological capacity necessary to support the portfolio objectives. Investments at 30 June 2023 amount to 21.5 million Euros a significant increase compared to the 18.4 million euros of the same period in 2022.

The Board of Directors has the update of the Business Plan was approved which broadens the time horizon to four-year period 2024-2027 and which provides for the continuation of turnover growth path up to 1 billion by 2025, with a gross operating margin of more than 10%, fueled by initiatives implemented on traditional and non-traditional markets, thanks to newly developed products. In particular it is expected enlargement of the application perimeter both in the earthmoving sector (with solutions dedicated to telescopic trolleys and aerial platforms) and in agriculture (with new electronically controlled transmissions, conceived in a 4.0 key). Alongside this, a specific focus will be maintained on on-highway vehicles (gears for trucks and axles for off-road vehicles) with high potential. In the four-year period the important investment plan will continue industrial initiatives already in place with the aim of supporting expected growth, improving the efficiency and productivity of Carraro factories around the world, as well as ensuring adequate impetus for the launch of new products.