IMA: preliminary FY 2017 estimates

Meeting on 19 February under the Presidency of Alberto Vacchi, the Board of Directors of IMA S.p.A., world leader in the production of automatic machines, viewed the preliminary estimates of the main management data for the year 2017, which indicate a year showing further growth over the previous one, thanks to the successful sales performance of automatic machines and complete lines in the principal sectors.

In 2017 the IMA group reported preliminary consolidated revenues amounting to 1,444.7 million euros, showing an increase of 10.2% on the 1,310.8 million euros of 31 December 2016.
The gross operating margin (EBITDA) showed sizeable growth before non-recurring expenses (220.6 million euro, + 19.2% compared to the 185.1 million on 31 December 2016), gross operating profits (EBITDA) having risen to 207.3 million euros (+ 15.7% compared to 179.2 million on 31 December 2016) and the consolidated order book having reached 866.8 million euros (+ 13.1% compared to the 766.2 million of 31 December 2016).
Preliminary net debt of the IMA Group on 31 December 2017 is seen to be in sharp decrease (down to 50.3 million euros against 99.9 million on 31 December 2016). The figure includes the total outlay of 47.6 million euros for the acquisition of IMA MAI, Mapster, Eurosicma, the balance for the purchase of Medtech and the acquisition of the minority shares of Atop. Preliminary net debt reflects proceeds of about 102.5 million euros arising from the listing of its subsidiary GIMA TT S.p.A. on 2 October 2017.
 
Commenting on the data, Alberto Vacchi, IMA President and CEO, said: «We express our satisfaction with these results, that exceed already announced targets, and that delineate a financial year showing further growth over the previous year. Preliminary estimates show a positive trend in revenues, margins and the consolidated order book, thanks to the growing demand for automatic machines and complete lines from the principal sectors, also confirmed by the order acquisitions for January. The data also shows good results in terms of cash generation, that has allowed a significant reduction of debt, despite the outlay for acquisitions completed in 2017. Results that once again confirm the strength of the IMA brand, the solidity of the Group and its ability to pursue its objectives with a view to sustainable growth based on digital and product innovation. We look confidently to 2018 - the President concluded - also in view of the high consistency of the consolidated order book, which provides a good visibility over the current year and also on the basis of the efforts we are making in innovation».   

The final results for the year 2017 will be examined by the IMA SpA Board of Directors summoned for March 14 2018.