Macchi financial statement for 2018 has been approved and Paolo Perazzi, General Manager of the company, has expressed a reasonable satisfaction and great optimism, commenting the results as follows: “2018 was a very special year for Macchi. Starting from July, together with the owners and the board we took a path towards a project for the reorganization and the structural revamping of the company, introducing a new managerial approach. This represents an approach aiming to preserve the values of one of the historical brands on the market, by introducing a number of cultural, structural, methodological and procedural innovations. The strive to preserve, with always greater determination and continuity, a sustainable leading role within a continuously evolving industry, flanks the need to answer to several new concepts such as total cost of ownership, service, preventive maintenance and local availability”.

Macchi has closed the fiscal year 2018 with a record production value, having recorded a 13.6% growth over 2017. Thanks to such excellent outcome, even considering the high costs connected with the company restructuration and reorganization process which has been started during the second half of 2018, and which will continue all along 2019, Macchi achieved a 2018 Ebitda substantially stable, which at the same time shows some improved indexes. Among them, are to be noticed: a substantial reduction of the net debts (- 9.3 million euros); a progressive increase of the warehouse turnover rate; a meaningful reduction of the relative incidence of the purchasing costs for raw materials, subsidiaries and consumables on the value of the production.

As far as the market’s reaction to Macchi value proposition is concerned, the company has recorded a strong increase in Italian sales and within the EU, against a small decline in some minor non-EU markets. The US market has confirmed the performance levels achieved over the last few years.

2018 product mix favoured the sale of complete lines over spare parts and recycling machines. The trend recorded during the first half of 2019 showed a progressive realigning of these volumes, which leads to expect for a positive contribution to the 2019 results.

The R&D activities have been focussed on the important 

developments which will be introduced to the K 2019 show (Düsseldorf, October 16-23, 2019) and which will allow Macchi to compete on new markets and new areas which have been only partially covered so far.

Macchi operational structure, in line with the restructuration and reorganization process, has been deeply modified since September 2018 and the management, together with the ownership - still firmly held by the Macchi family - trust to be able to complete the process within 2019.

Consistently with the needs identified, a program was launched during 2018 to strengthen some strategic functions and to establish others, which are missing but are deemed functional to perform all necessary activities.

International development continues in a constant and structured manner and Macchi expects to be able to reach, by the end of 2019, a much more functional and efficient geographical presence than in the past.