BOLOGNA, Italy – The Board of Directors of IMA S.p.A., world leader in the production of automatic packaging machines, met yesterday under the chairmanship of Alberto Vacchi and reviewed preliminary estimates of the Group’s main operating figures for 2016.
The IMA Group has closed 2016 with preliminary consolidated revenues of 1,310.8 million euros, an increase of 18.1% compared with 1,109.5 million at 31 December 2015.
There has been considerable growth in gross operating profit (EBITDA) before non-recurring charges, which has risen to 185.1 million euros (+17.5% compared with 157.5 million at 31 December 2015), in gross operating profit (EBITDA), which has risen to 179.2 million euros (+21.1% compared with 148 million at 31 December 2015) and in the Group order book, which has reached 766.2 million euros (+17.9% compared with 649.9 million euros at 31 December 2015).
The preliminary results for 2016 indicate that it was a year of continuous growth compared with the previous year, thanks to a positive trend in sales of automatic machines to the Group’s key sectors (pharmaceutical and food) and to the contribution of the newly acquired Medtech business and Telerobot, which have been consolidated from April and May 2016 respectively.
The preliminary figure for the IMA Group’s net debt at 31 December 2016 shows that it has fallen to 99.9 million euros (163.1 million at 31 December 2015).
This figure includes a total outlay of 24.5 million euros for the acquisition of the Medtech business and Telerobot, as well as the minority shareholdings of GIMA S.p.A. and GIMA TT S.p.A. for 35.6 million euros, net of the increase in capital of about 91 million euros.
Commenting on the results, Alberto Vacchi, IMA’s Chairman and CEO, declared: “Based on the preliminary results, 2016 looks like being a year of considerable satisfaction for the IMA Group. Consolidated revenues have reached 1.3 billion euros and the preliminary results show a positive trend in profitability, steady growth in the Group order book and strong cash generation, which has permitted a significant reduction in debt.
The Group has strengthened its leadership thanks to a policy of external growth bolstered by an industrial strategy based on innovation and constant monitoring of its markets, which has led to an expansion of the product range and the acquisition of new market shares.
Diversification of the business into related sectors has turned out to be rewarding, with the help of the contribution made by the newly acquired Medtech business and Telerobot, both active in the Automation sector.
There are also good growth prospects thanks to the recent acquisitions completed in the field of machines for the packaging of tea (the acquisition of MAI S.A., a company based in Argentina) and coffee (agreement to buy Mapster and a minority share in Petroncini).
The consolidated order book at the end of December, confirmed by the trend in January, gives us good visibility for the current year, allowing us to look forward with confidence to how 2017 is likely to evolve”.
The final results for 2016 will be considered by the Board of Directors of IMA S.p.A. at the meeting scheduled on 14 March 2017.
The manager responsible for the preparation of the Company’s accounting documents, Sergio Marzo, declares in accordance with article 154 bis paragraph 2 of the Consolidated Finance Act that the accounting information contained in this press release agree with the books of account, the accounting entries and supporting documentation.
Note that the figures in this press release are currently being audited by EY S.p.A., IMA’s auditors. The results of the audit will be made known in line with the schedule for approval of the financial statements.
The preliminary results for 2016 include the contribution of the newly acquired Medtech business and Telerobot, consolidated from April and May 2016 respectively.
