GIMA TT announces its preliminary results for 2017

May 01, 2018

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Leader in the field of automatic packaging machines for tobacco products, GIMA TT closed 2017 with 151.8 million euro in earnings (+51.2% compared to the 100.4 million reported by the company on 31 December 2016), with an export share exceeding 72%, with excellent results in Europe and Asia. The company also fared very well on the domestic market, with 13% growth.

The Board of Directors of GIMA TT S.p.A., met in March under the chairmanship of Sergio Marzo and reviewed preliminary estimates of the Company’s main operating figures for 2017. The final results for 2017 will be considered by the Board of Directors of GIMA TT S.p.A. at the meeting scheduled on 9 March 2018.
GIMA TT has closed 2017 with preliminary revenues of 151.8 million euros (an increase of 51.2% compared with 100.4 million at 31 December 2016).
There has been strong growth in gross operating profit (EBITDA) before non-recurring charges relating to the listing, which rose to 63 million euros (+56.7% compared with 40.2 million at 31 December 2016) and in gross operating profit (EBITDA), which rose to 61.7 million euros (+53.4% compared with 40.2 million at 31 December 2016).
The company’s operating profit (EBIT) reached 61.2 million euro (+54% compared to the 39.8 million of 2016), while its profit for the year was 44.1 million euro (+62% over the 27.2 million of 2016).
There has been a significant increase in the order book that reached 110.4 million euros, showing a +24.6% increase compared with 88.6 million at 31 December 2016.
The preliminary net financial position is positive for 45.8 million euros, substantially in line with the previous year (45.2 million euros); the figure includes a total outlay of 27 million euros for the payment of dividends out of the 2016 net profit.

2018 forecasts. On the basis of the company’s order book as of 31 December 2017 and orders for the first two months of the current year, further growth can be expected this year.
If current conditions continue in the coming months, GIMA TT expects to see earnings exceeding 180 million euro in 2018, with EBITDA around 75 million euro.

Proposed purchase of company shares. At the shareholder meeting, the company will propose the authorization to buy and sell shares, up to the maximum permitted by law.
The purchase price would be set as the average share price of the previous five days (+/-10%), while the sale price would be at least equal to the average purchase price. GIMA TT does not currently own any of its own company stock.

FOUNDED IN 2012, GIMA TT is a leader in the design and assembly of electronics-based automatic machines for the packaging of tobacco products and, in particular, of new-generation, reduced-risk products.
GIMA TT is held 60.084% by IMA S.p.A. The Company, based in Ozzano dell’Emilia (Bologna), Italy, has closed 2017 with preliminary revenues of 151.8 million euros and a workforce of 138 employees. GIMA TT debuted on the STAR segment of the Borsa Italiana’s Telematics Stock Market on 2 October 2017.