The board approves the end of year results as of 31 December: turnover and profits up

The board of directors of Gefran, which met on March 9, unanimously approved the company’s financial statements as of 31 December 2016. These showed a 3.4% increase in turnover, which amounted to 119.3 million euros, with net profits standing at 3.9 million euros.

The breakdown of sales by geographical areas showed positive results across all the areas in which the group operates: in particular, 3.9% growth was recorded in Italy, 6.3% in the EU, 1.8% in North America, and 3.4% in South America. Revenue in Asia, showing 1.6% growth, saw a reversal of the negative trend recorded in 2015: sales were negatively affected (-756,000 euros) by the exchange rate of the renminbi against the euro, and without this factor the recovery would have been even more marked. The growth trend was confirmed across all three of the company’s business areas - sensor systems, automation and drives - which recorded increases of 5.1%, 6.6% and 0.2% respectively (in line with 2015).

The main objective for 2017 is to strengthen some of the business margins, while maintaining the group’s capacity to respond to market demand with technologically advanced solutions.

 “2016 saw the full effects of the new strategic course taken in the second half of 2015, which introduced greater focusing on our core business. The main balance sheet indicators showed a positive trend, in many cases exceeding the targets set at the start of the year. This was an all-round growth, being generated by all the different business lines and also by all the geographic areas in which the group is present. It is worth noting the ongoing improvement of the Motion Control business results, which are coming close to reaching the break-even point.