Board meeting of Gefran S.P.A.: preliminary consolidated results at 31 december 2022

Revenues amounted to 134.4 million Euro, an increase of 15.8 million Euro (+13.3%) over 2021 revenues of 118.6 million Euro. Revenues increased in all business segments: sensors (+11.6%), with higher sales volumes across all product ranges and, especially, those comprising industrial pressure and high temperature sensors, which have benefited from investment in recent years in reinforcement of production lines; automation components (+16.2%), with most of the additional sales concentrated in Italy and in Europe, due to expansion of the range of innovative products capable of interfacing with digitised industrial processes.

Breakdown of revenues by geographical region reveals double-digit growth in almost all the areas served by the Group, particularly in Italy (+13.8%), Europe (+17.7% overall) and the Americas (+37.1% overall), where this performance was partly attributable to depreciation of the American dollar and the Brazilian real.

The only one of the principal areas served that counters this trend is Asia, where sales shrank in 2022 compared to the year 2021 (-3.8%).

EBITDA for the period ending on 31 December 2022 was positive by 24.6 million Euro (18.3% of revenues), 2.2 million Euro (9.7%) more than the figure reported at 31 December 2021 (when it amounted to 22.5 million Euro). The improvement in EBITDA is due to increased revenues in the period.

Net financial position as of 31 December 2022 is positive by 24.3 million Euro, up 20.9 million Euro over the end of 2021, when it was, on the whole, positive by 3.4 million Euro. Net financial debt comprises net short-term cash and cash equivalents totalling 32.7 million Euro, and net medium/long-term debt of 8.4 million Euro.

Approval of the company’s draft financial statements and consolidated financial statements at 31 December 2022 is scheduled for 9 March 2023, the date of the next Gefran S.p.A. Board of Directors meeting. Changes are currently being made.