GIMA TT completes another double-digit growth year

GIMA TT posted net revenues of €182.9 million in 2018, 20.5% up from the €151.8 million in the year to 31 December 2017.

The company also reported double-digit growth in EBITDA (€73 million, up 18.4% on 2017), EBIT (€72.1 million, +17.8%) and operating profit (€51.8 million, +17.5%). Exports performed strongly, particularly in Europa and Asia, and reached a share of more than 90%.

Based on the order book to 31 December 2018 (€53.5 million) and orders in the first two months of the current year, GIMA TT is forecasting 2019 revenues of around €110 million.

Sergio Marzo, Chairman of GIMA TT, commented: “We are pleased with the growth achieved by GIMA TT. In 2018 we accelerated our customer base diversification process by signing a major contract with the company Shanghai Tobacco Machinery Co. Ltd. and expanded our product range with the introduction of the first line for vaping products packaging. Innovation represents the driving force behind our growth and we are continuing to invest in R&D for packaging machinery for both conventional and reduced-risk products.”