(Finance) – Eptaan Italian group active in commercial refrigeration, closed 2021 with a net turnover of 1,197 million euros, an increase of 29.6% compared to 2020 and significantly below above pre-Covid-19 levels, driven by the growth in all three business units (Retail, Food & Beverage and After Sales) in which the group operates. In Europe, the group’s turnover amounted to 898 million euros, up 31% compared to 2020, in the Americas to 176 million euros, + 31% compared to 2020 and in APAC to 93 million euros, up by 29% compared to 2020, with the remaining € 29 million recorded in the rest of the world.
L’Adjusted EBITDA amounted to 136 million euros (75 million euros in 2020), reaching an EBITDA margin of 11.4% (8.1% in 2020). L’Adjusted net profit it settled at 66 million euros (21 million euros in 2020), benefiting from better profitability in terms of EBITDA, a constant level of depreciation and an improvement in the financial area. The net debt it was 58 million euros at 31 December 2021, down from the 81 million euros recorded at 31 December 2020 with a limited level of debt (0.4x net debt / Adjusted EBITDA).
“I am extremely proud to be able to comment on a 2021 like the one we have just achieved: an important year full of challenges but also a magnificent year built day after day thanks to the choices of management and the commitment of our employees, the main people responsible for this. Record 2021 that has seen Epta to become a One Billion Company“, commented Marco Nocivelli, president and CEO by Epta.
The group describes the international geopolitical situation as “worrying and evolving with potential wide-ranging implications”. The immediate effects of this situation on Epta’s business “contents appear“, representing Russia only 0.05% and Ukraine 0.2% of the consolidated turnover of the group. Furthermore, Epta does not have production plants in the territories affected by the crisis nor does it depend on raw materials or goods of Russian origin.