Positive revenues and margins for Gefran in the first nine months of 2023

(Picture from Gefran Linkedin page)

Gefran's Board of Directors, which met on 8 November under the chairmanship of Maria Chiara Franceschetti, approved the company's statments as at 30 September 2023.

Revenues in the January-September 2023 period amounted to 101.2 million euros, compared to 101.5 million euros in the same period of the previous year, with  a decrease of 0.3 million euros (-0.3%). Adjusted for currency effects, amounting to 1.4 million euros, revenues would have grown by 1% with respect to 30 September 2022. The Gefran Group's revenues as at 30 September 2022 also included 1.5 million euros, of which 0.8 million euros related to services to companies that left the group as a result of the acquisition of the drive business unit by the WEG Group and 0.6 million euros for residual sales of products for drives not subject to restatement, originated by companies excluded from the sale of the drive business unit. As at 30 September 2023, these revenues totalled 0.7 million euros (of which 0.2 million euros for service and 0.5 million euros for product sales). Excluding these effects, revenues at 30 September 2023 would therefore have increased by 0.4 million euros compared to the previous year. 

The breakdown of revenues by geographical area shows growth in some of the main regions covered by the Gefran Group, in particular in Europe (+4.3% overall). However, revenues generated by the Italian domestic market were down (-1%) and especially the Asian markets (-6.5%), where the effect of currencies – i.e. rupee and renminbi – had a major impact. Excluding the currency effects, the decrease would have been limited to -0.6%. In terms of business areas, the growth in revenues related to automation components is going on, and as at 30 September 2023 recorded +3.1% compared to the previous year, also thanks to residual revenues related to the sales of products for drives generated by companies excluded from the sale of the drive business unit. On the other hand, revenues from the sensors business unit fell by 2.2%, owing partly to lower sales in Asia and in Italy, as well as to a decrease in orders for goods and services from the companies sold by the Gefran Group.

In the first nine months of 2023 there was an overall decrease in orders (-11.1%) due to the decline in automation components (-5.9%), particularly in sensors (-13.2%). "We are satisfied with the results achieved in the period, which show positive revenues and margins in line with those recorded last year, although the macroeconomic scenario is sending critical signals. Overall, in fact, the group recorded results in line with expectations, confirming Gefran as a resilient company, able to manage the current uncertain situation without weighing on future developments, as demonstrated by the significant investments made in the first three quarters of the year. We are therefore on track to close 2023 with absolutely positive margin figures, despite a reduction in demand which might result in the loss of a couple of percent points in revenues compared to the previous year. The group is consolidating the excellent results achieved in recent years, as well as remaining active and focused on studying business development opportunities that may be originated by external product lines. Our goal is to be ready with new products and investments in production capacity when the market will start to recover, benefiting from a possible further acceleration resulting from potential acquisitions” said Marcello Perini, CEO of the Gefran Group.

(Picture from Linkedin Gefran page)

Gefran was also indicated as the "Best" company in the "Large Enterprise" category of the BtoB Awards Brescia 2023. The award was received by Maria Chiara Franceschetti (left) during the ceremony held on 8 November at the Santa Giulia Auditorium in Brescia. For 11 years, BtoB Awards has rewarded entrepreneurial excellence and, with the involvement of trade associations, institutions, and protagonists of the civil and economic life of the various territories, decrees the best companies in their respective categories at each edition. After Monza, Como and Lecco, this year the BtoB Awards were held in Brescia.