In a year like 2022 – in which the macro-economic scenario saw the emergence of problems of an exogenous nature, such as the exponential increase in the cost of raw materials and the outbreak of the war in Ukraine – our Financial Statements achieved an EBITDA of 91 million euro and a total Net Profit of 61 million as well as Revenues for 647 million euro (with a growth of 12.8% compared to 2021), throughout all geographical areas and particularly in the USA.
The Net Equity total figure stands at 350 million, with a 13.5% increase on 2021 and the Group’s Net Financial Position recorded a positive balance of 94 million euro – confirming the Group’s solid financial situation. The operating management has created the necessary liquidity to self-fund both the considerable growth in inventories, aimed at preventing delays in the supply of components, and new equity investments, aimed at vertical integration of the production cycle of our Medical Equipment BU, by attracting into the Group the production of high-tech goods and diagnostic software with developments into the field of Artificial Intelligence.
Business Units Financial Statements
As regards the performance of our Business Units, as far as the Engineering BU is concerned, throughout 2022 despite increasingly worrying inflationary pressures and supply difficulties, a growth in revenues was recorded in the Financial Statements. The year 2022 also closed with an increase in revenues on the previous year for the Finishing BU, supported by a clear strategy of streamlining and change, both in operational and in organizational terms. In 2022 the Medical Equipment BU faced the threats of the current social and economic scenario by implementing actions aimed at ensuring production continuity, stabilising operating margins and securing a growth in volumes and market shares. Corporate acquisitions were also achieved to strengthen the technological know-how of the Imaging Business Line.
The costs incurred for research, development and innovation activities – product functional and aesthetic improvement, expansion of the product range, process re-engineering, digitization and exploration of new activities – amounted to 11.9 million euro, covering both industrially oriented Business Units (Finishing and Medical Equipment) and the Engineering BU.
“Cefla is continuing to grow, overcoming challenges and creating value over time, through its expertise and capacity for innovation. We have significant financial solidity which forms the basis for continuous investments. Our distinctive ‘associated entrepreneurship’ enables us to tap the market, creating value for our customers which is then given back to the company, creating a virtuous circle.” For us, this is a primary objective that requires considerable responsibility and commitment as well as focus on innovation and continuous process improvement,” says the President Gianmaria Balducci.
“The result of the 2022 Financial Statements confirms our willingness to invest in innovation throughout our business units. Our commitment to research and development will increase as a result of our increasing competitive capacity at this time of major, rapid changes and momentous transformations in the digital and environmental fields. Our primary objective will continue to be constant market presence, actively listening to the needs that are voiced, in order to bring more benefits to the industry,” concludes the General Manager Paolo Bussolari.