In 2021 Gefran grows in all sectors and exceeds pre-pandemic levels

The Gefran Board of Directors examined the company’s preliminary results as of December 31, 2021. Revenues amounted to 160.2 million euros, an increase of 30.6 million euro (23.6%) over 2020 revenues of 129.6 million euro. The increase in revenues applied to all business sectors: sensors (+34.1%), thanks in particular to the strong recovery of Asian markets, followed by recovery in Italy and Europe; automation components (+24.3%), mainly concentrated in Italy; and motion control (+11.5%), driven by sales of industrial and lifting products, as well as customised products.

All businesses units recovered the gap in revenues recorded in 2020 due to the effects of the Covid-19 pandemic: sensors performed 27.8% better than the figure for 2019, while components and motion control grew by 11.8% and 2% over 2019. The breakdown of revenues by geographical region reveals double-digit growth in all areas served by the group, particularly Asia (+22.9%) and Italy (30.6%). Revenues were also up in Europe (+21.4% overall) and on the American continent (+13.9%), where performance was in part affected by the depreciation of the dollar and the Brazilian real.

Ebitda at December 31, 2021, was positive by 26.2 million euros (equal to 16.3% of revenues), 8.6 million euro higher (+49%) than the December 31, 2020, figure of 17.5 million euros, exceeding 2019 levels, when it amounted to 19.7 million euros. The improvement in Ebitda is due to increased revenues in the period. Net financial position as of December 31, 2021, is positive by 3.3 million euros, up 7 million euros over the end of 2020, when it was, on the whole, negative by 3.7 million euros. Net financial debt comprises short-term cash and cash equivalents totalling 21 million euros, and medium/long-term debts of 17.8 million euros.

Approval of the company’s draft financial statements and consolidated financial statements at December 31, 2021, is scheduled for 10 March 2022, the date of the next Gefran Board of Directors meeting.