(Finance) – Neodecortechlisted on Euronext STAR Milan and one of the main European operators in the production of decorative papers for faced panels and flooring used in the interior design sector, has registered consolidated net revenues as at 30 September 2022 equal to 151 million euros, an increase of 20.4% compared to the same period of the previous year, which closed at 125.4 million euros. Sales of the printed decorative paper division increased by 7.1%, the sales of the decorative paper division grew by 36.7%, those of the energy division grew by 20.4% compared to the same period of the previous year.
L’EBITDA amounts to 15.6 million euros (10.3% of revenues), with an increase in absolute value of 12.5% compared to 13.8 million euros at 30 September 2021 (11% of revenues) and a slight decrease of the percentage margin linked to increases in the prices of raw materials and energy costs.
L’adjusted net profitadjusted by the effects of the write-off of the prescribed financial debt and credit (also net of tax effects), is equal to 7.1 million euros, therefore an increase of 2.6 million euros compared to 30 September 2021 (+58, 5%).
“As regards the supply chain of decorative surfaces linked to the furniture and furnishings market, understood as both furniture and flooring, the growth trend observed since mid-2020 and for the entire year 2021, starting from the in July was substantially interrupted, showing a slowdown in incoming orders“, commented theCEO Luigi Cologni.
“The deterioration in macroeconomic sentiment has therefore paid off the policy of reversing cost increases is only partially feasible of supply on the sales prices applied to end customers and this justifies the slight decrease in gross operating profit (regardless of the fact that, in absolute values, there was an increase in turnover) “, he added.
L’Net financial debt at 30 September 2022 it is equal to 30.6 million euros, a slight increase compared to the net financial debt at 31 December 2021, equal to 29.3 million euros, after having made investments for 6.2 million euros, and on the other hand, in line with the net financial debt at 30 September 2021 of € 35.8 million, which still included the debt to the MICA for € 5 million.
The group explains that the Neodecortech and Cartiere di Guarcino production plants operated at full capacity throughout the first nine months of the year and are expected to be operational during the last months of the year. However, for Neodecortech, the reduction in incoming orders, which began at the beginning of the second half of the year, led to an initial reduction in production, and therefore in turnover, starting from the end of September. “This reduction will have its own effects in the last quarter of the year requiring partial closures the production plants of Filago (BG) and Casoli (TE) with relative recourse to the Redundancy Fund“is underlined.
(Photo: © Veerasak Piyawatanakul)