Gefran revenues grew by 13.3% in 2022

The Gefran Board of Directors, chaired by Maria Chiara Franceschetti, met in the company’s offices in Provaglio d’Iseo (Brescia, Italy) and approved the company’s draft Financial Statement, Consolidated Financial Statement and Non-Financial Consolidated Statement at 31 December 2022. With reference to the consolidated results, revenues totalled 134.4 million euro, as compared with revenues of 118.6 million euro in 2021, an increase of 15.8 million euro (+13.3%), which would amount to 11.6 million euro (+9.8%) net of the positive effect brought by exchange rate fluctuations. Despite the emergence of critical events that reflected in the global economic picture, the group has been able to consolidate the growth trend in revenues seen in 2021.

Revenues increased in all business segments: sensors (+11.6%), with higher sales volumes across all product ranges and, especially, those comprising industrial pressure and high temperature sensors, which have benefited from investment in recent years in reinforcement of production lines; automation components (+16.2%), with most of the additional sales concentrated in Italy and in Europe, due to expansion of the range of innovative products capable of interfacing with digitised industrial processes. Breakdown of revenues by geographical region reveals double-digit growth in almost all the areas served by the Group, particularly in Italy (+13.8%), Europe (+17.7% overall) and the Americas (+37.1% overall), where this performance was partly attributable to depreciation of the American dollar and the Brazilian real (20.9% growth net of exchange effects). Asia is the only area that is countering this trend, with a contraction in the year 2022 compared to 2021 (-3.8%), affected by restrictions under the “Zero Covid” policy, which led to lockdown periods in some parts of the continent during 2022, particularly in Shanghai where one of the Group’s production sites is located.

“Two factors characterised the year 2022: high market uncertainty (originating from a combination of critical issues in the supply chain, the pandemic persisting in some countries and geopolitical crisis) and the change in the Group’s scope of activity (determined by the sale of the motion control business to the Brazilian multinational WEG). The businesses we are continuing (sensors and components for industrial automation) have experienced significant growth, allowing Gefran to achieve excellent economic and financial results, which are a source of particular satisfaction. The Group has expanded and innovated its product portfolio and evolved industrial processes through significant investments by continuing to serve the market with reliability and punctuality. On the demand side, 2023 opened at two speeds: Europe and America are stable compared to the last quarter of 2022, while Asia is down. There are still difficulties in procurement, and challenges in the international context, but we are confident in the Group’s ability to manage uncertainty thanks to the strengths that, in recent years, have made it possible to achieve excellent performance in equally challenging situations. Therefore, for the current year, we remain optimistic about a positive trend in revenues and margins”, Marcello Perini, CEO of Gefran, declared.