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Published: November 2005
Stronger showing by Fantuzzi
Fantuzzi group logged sales of €189 mill in the first half of this year, an increase of 10 per cent compared to the same period in 2004. Crucially, says the group’s finance director and joint managing director Guido Luini, EBIT in the first half of 2005 was plus €1.3 mill, compared to a negative EBIT of €40 mill in the first semester of 2004.
In 2004 as a whole Fantuzzi group had a turnover of €460 mill but recorded a loss of €58 mill, although this included extraordinary, non-recurring losses of €39 mill. By the end of June this year net debt had been cut to €189 mill. For 2005, says Luini, the group is forecasting an 8-10 per cent increase in sales. It expects EBIT to be in “double digits” and net debt to fall to somewhere between €180 and €185 mill. Order intake in 2005 is running some 25-30 per cent ahead of last year’s level and the order backlog at the end of this year will be around 30 per cent higher than at the end of 2004....
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