News


News del 27/07/2018


THE SHAREHOLDERS MEETING OF GROUP MASCHIO GASPARDO APPROVES THE 2017 FINANCIAL STATEMENT: 

  • THE 2017 CONSOLIDATED TURNOVER IS 324 MILLION EURO
  • THE GROUP RETURNS TO REACH A NET PROFIT  (CORRESPONDING TO 5 MILLION EURO) AFTER THREE YEARS

 THE NEW CHIEF EXECUTIVE OFFICER HAS BEEN NOMINATED: LUIGI DE PUPPI

The Shareholders meeting of Maschio Gaspardo Spa, a company specialized in the production of agricultural implements for tillage, seeding, crop protection, green maintenance and haymaking, has approved today the Financial Statement of the Company related to the fiscal year 2017.

With the approval of the Financial Statement to 31 December 2017 the mandate of the Chief Executive Officer Massimo Bordi has expired. The Assembly of the Shareholders has therefore appointed the nominee of the new Chief Executive Officer in the person of Luigi De Puppi.

The Group, which now counts 2200 employees in the whole world, 1200 located in Italy, is present with 7 production plants, 4 in Italy and 3 abroad, in China, India and Romania with a network of 12 commercial branches (Italy, France, Spain, Germany, Romania, Poland, Turkey, Ukraine, Russia, China, India, North America).

Financial Data 

The consolidated earnings of Group Maschio Gaspardo to 31 December 2017 correspond to 324 million euro, with an increase of 11% in relation to 291 million figure of 2016. Such result, in a world market context of agricultural machinery which has shown good signals of upswing, has been achieved thanks to the strength of the commercial network present in the whole word and to the introduction in the market of new products.
Analyzing geographical areas, the sales abroad, which represent the 82% Group turnover, show substantial increase rates in Asia, with an increase of 16%. The same happened in Eastern Europe: 22% in relation to 2016. Especially in India, where the Group is present with a production site from 2011, the business is increasing 30% in relation to 2016.

The EBITDA achieved by the company up to 2017 end counts 32 million euro, increasing 8% in relation to the 29.7 million of 2016 end. The Group returns to profit after three years, noticing a result up to the end of fiscal year 2017 which corresponds to 5 million euro. The Net Financial Position up to 31 December 2017 corresponds to 185 million euro with an improvement of 4.5 million euro comparing to 2016. The total value of the investments of 2017 amounts to around 11 million euro with a comparison Capex/turnover of 3.5%.

The results achieved by the Group up to 31 December 2017 are in line with the targets planned by the Industrial Plan 2015-2018.

Designation of the New Board and the new CEO

The Shareholders meeting of Maschio Gaspardo Spa has nominated today the new Board of Directors composed by: Mirco Maschio – President, Giorgio Maschio – Vice President, Andrea Maschio, Martina Maschio, Alberto Baban, Franco Biasutti e Luigi De Puppi as the new Chief Executive Officer.  

Luigi De Puppi, Italian, from Friuli Venezia Giulia region, was born in year 1942. He has a Bachelor’s degree in Economics and Business at Bocconi University, and a ‘honoris causa’ degree in Economics and Banking at Udine University. Luigi De Puppi has a wide and consolidated managing experience in important Italian and International companies  from the industrial sector to the Banking-Insurance sector, such as Toro Assicurazioni and Alleanza Toro (President and CEO), Banca Popolare FriulAdria (CEO and GM), Zanussi-Electrolux (CEO), Benetton (CEO) and Olivetti.

He is currently member of the Boards of the following Companies: Gruppo Pittini, IVS, P.Rosa T.B.M and Calligaris.

The new Chief Executive Officer has the assignment to proceed the operations of consolidation of the achieved results and to set up the new phase of development of the Group in Italy and all the world.  

Maschio family, the majority shareholder of the group, is grateful to Engineer Massimo Bordi for the fundamental results achieved and for the great efforts made during the three years of mandate. During this period they faced together a demanding production plan, overcoming a difficult financial situation born between 2013 and 2014, establishing the basis for a new three year period of consolidation and development.

“They were three intense years, with great satisfactions. has declared the President of Maschio Gaspardo Spa Mirco Maschio – During these years together with an expert and motivated team   we reached extraordinary results”. “The entrance of Eng. Bordi was the last important act of my father Egidio before he left - declared Andrea Maschio, President of Maschio Holding- We are therefore very satisfied for the significant value increase that the group has obtained during these three years”

“I leave the company in a more strong condition and with a huge unexpressed potential. – declares Massimo Bordi – it was a pleasure for me to accomplish such a complex project in a Company full of great energy and enthusiasm left by the President Egidio Maschio.”