News del 21/11/2019

The group approved the Financial Report 2018 with increasing revenues for 332 million of euro 

Kick-off to the second stage of the Business Plan 2019-2021 for the development and the strengthening of the business

The shareholders’ meeting approved the financial report 2018, establishing revenues for 332 million of euro, a growing value in relation to year 2017, particularly relevant the Italian area with + 8,25%. EBITDA of 2018 stabilises at 30,6 million of euro.

During November, the operation targeted to strengthen Maschio Gaspardo assets has been concluded with a triple action by the regional financial societies Friulia S.p.A (also through the co-owned Finest S.p.A.) and Veneto Sviluppo S.p.A. in the asset of the companies of the Group.

About the international presence of the Group, Finest – through an action in equity equal to 5 million of euro – has joined as minority shareholder (25%) the share capital of the owned Romanian subsidiary Maschio Gaspardo Romania S.r.l., contributing to finance the investment program of the local manufacturing plant.

“This result represents a further step for the financial reinforcement of Maschio Gaspardo Group; it gives the chance to concentrate our efforts in the growth and the business development. – comments Mirco Maschio, President of Maschio Gaspardo – our  target for the coming three years is the expansion of those markets where we are already present, offering high-tech and user friendly products able to maximize our customers ‘profits.”

Furthermore, the asset increase is targeted to strengthen the financial situation of the Company and represents the first phase expected in the Business Plan 2019-2021. Maschio Gaspardo works towards the growth and the business stabilization reinforcing the presence of the Group in the high potential markets (China, Japan, South-Est Asia and North America), also thanks to strategic partnerships.

Another strategic goal of the Business Plan is the development in those markets where the presence of the Group is still marginal, like Africa and South America. In this sense a collaboration with Bonifiche Ferraresi and Eni has recently started up, the projects of development in Africa concerns the creation of integrated agricultural supply chains in the African continent, assigned to produce for the domestic market and consequently to develop a technical collaboration in the sector.

To face the imbalances connected with the climate or created by the international political-economic situation (USA duties, Brexit, Russian sanctions and political instability in Turkey) that are involving the agricultural branch, the company has already launched a rationalisation of the production in compliance with the purposes of the Plan.

In closing, to summarise the most import fair of the sector “Agritechnica” just ended in Hannover, the company has given evidence that technological development of electronics, as well as innovation and design are the focus, presenting 11 new models.