Gefran examines end-of-2024 results: stable revenue, good Asia and America

The Board of Directors of Gefran met under the chairmanship of Maria Chiara Franceschetti to examine the preliminary consolidated results as of 31 December 2024.

Revenues in 2024 amounted to 132.6 million euros, essentially in line with 2023 (132.8 million euros), down by 0.1% (-4.2% in the first half of the year). Excluding the negative effect caused by the change in exchange rates, progressive revenues for the year appear to be 0.4% higher than the previous year’s figure.

The breakdown of revenues by geographical region shows a widespread decrease across many of the areas served by the group, and particularly Italy (-6.6%) and Europe (overall -7.8%). A geographical region which posted, instead, revenue growth is Asia (+20.9%), which was influenced by the negative effect of foreign currencies developments (the renminbi and the rupee), net of which the recorded increase would be even higher (+22.3%). Sales in America went also up (overall +2.2% which, excluding the negative effect of exchange rate fluctuations determined by the Brazilian real, would reach +4.5%).

In terms of business areas, compared to 2023, it has to be underlined increasing revenues in the automation components segment, which posted 1.1% growth driven by the increase in sales of the product families of power controllers (+8.9% compared to 2023) and solutions (+11.4% compared to the same previous period), and in particular in the Asia and America markets (+42% and +16%, respectively, compared to 2023). On the other hand, revenues generated by the sensors segment went down compared to the figure at 31 December 2023, specifically by 1.6% (net of the negative effect contributed by currencies, the percentage decrease would be more limited, i.e. 1%) throughout the main geographical areas served, excluding the Asia market where, just like for the automation components segment, revenues increased compared to the same previous period (+18.5% compared to the figure of 2023).

In 2024, order intake was overall higher than in 2023 (+8.5%), because of an increase in order intake for the sensors business (+10.8%), while it was lower, albeit largely positive, for the automation components business (+4.5%).

Ebitda on 31 December 2024 was positive by 23.1 million euros (24.1 million euros on 31 December 2023), corresponding to 17.4% of revenues (18.2% of revenues at 31 December 2023), down 1.1 million euros over the previous year. Higher added value and other operating costs essentially unchanged from 31 December 2023 did not completely cover the increase of personnel costs, characterised by the increased workforce and generally higher salaries as a natural effect of inflation. These combined factors resulted overall in a lower Ebitda compared to the previous period.

The net financial position as of 31 December 2024 was positive and amounted to 34.2 million euros, while the figure at the end of 2023 was positive by 22.7 million euros. It comprises net short-term cash and cash equivalents totalling 53.3 million euros, and net medium/long-term debt of 19.1 million euros.

Approval of the company’s draft financial statements and consolidated financial statements on 31 December 2024 is scheduled for 13 March 2025, the date of the next Gefran Board of Directors meeting.