(Finance) – Coflea group listed on Euronext Growth Milan and active in the control and control cables systems for the off-road Vehicles sector, recorded a sales of 2024 equal to 59.9 million euros (60.6 million in 2023). THE’Ebitda adjusted it is 6.8 million euros (11.5 million in 2023). THE’Ebitda It stands at 4.1 million euros, recording a significant decrease compared to 9.9 million euros in 2023. This reduction is mainly attributable to the increase in production costs, which for the current year amount to 62.3 million euros, with an increase of 8.6% compared to the previous year. This increase is mainly due to the increase in labor costs, linked to the renegotiations of the collective agreements of the Turkish subsidiaries, and the increase in rent fees.
The net result It is negative and equal to -5.6 million (0.8 million in 2023) and, in addition to what already reflected in the Ebitda, reflects the incidence of greater depreciation, financial charges and not cash items equal to 2.2 million euros for the application of the principles inherent in the hyperinflation of the Turkish subsidiaries.
THE’Net financial debt At 31 December 2024 it amounts to 13.9 million euros. The investment activities above all for the completion of the new logistical pole, financial charges relating to financing existing in addition to the distribution of dividends and purchase of proper shares by the group leader are most affected.
“We consider 2024 and 2025 a transition period for the company, characterized by exogenous factors that have imposed changes of strategy – commented theTo Walter Barbieri – The agricultural machine market has recorded a significant drop in sales globally, which has impacted significantly on our turnover. This slowdown is the result of several factors, including the increase in the costs of mechanical means, the difficulty of access to credit and the unfavorable trend of the primary sector, which have led to a contraction in investments in new technologies. The After Market division, on the other hand, is recording growth thanks to the acquisition of new customers through the commercial strategies of the French branch and the growing interest in our new patented range of EPB “.
“The Saving actions that we have implemented they will begin to generate concrete results in the second half Of 2025, with significant benefits for profitability – he added – we are therefore confident that, thanks to a solid technological and organizational base, Cofle will be ready to grow and successfully respond to the new challenges and opportunities of the market “.