Yarn & Fiber
RadiciGroup reports 2016 sales revenue of EUR 946 million
Positive 2017 first half:
Rising sales volume (+7%) and revenue (+ 23%)
The Group closed 2016 with slightly lower sales revenue (- 6%), but with sales volume in line with 2015. EBITDA for the financial year was EUR 110 million (+8%).
“The Group is solid and well organized,” Angelo Radici, president of RadiciGroup, stated. “The slight drop in sales revenue can be attributed to the falling trend in raw materials prices, which thus affected our figures. The Plastics Business Area made a significant contribution to Group results, but, in general, we managed to keep the sales volume of all Group business areas consistent with the prior financial year. Still ongoing is our action plan to put the Group in a position to achieve continuous growth: optimizing resources, increasing plant efficiency and reducing energy use. What’s more, our results for the first months of 2017 are very positive, with sales revenue up by over 23% and sales volume up by 7%.”
As regards the financial soundness of RadiciGroup, Alessandro Manzoni, CFO of the Group, had a positive comment: “The financial condition of the Group is absolutely solid; financial debt decreased in 2016, despite an acquisition by our plastics business. The Group’s financial position is sound and we are ready to take on further growth, as opportunities present themselves.
The Group is supported by a reciprocal relationship of trust with the financial system, built through the years thanks to a continual and transparent flow of information.”