Biesse closes the first half of 2014 with good results

Meanwhile, EBITDA amounted to 16.9 million (46.5% compared to the same period in 2013); with a margin of 8.4% (6.4% in the first half of 2013);, and EBIT rose to 9.7 million, an increase of 88.4% over 2013, with a margin of 4.8% (2.9% in the first half of 2013);.

Finally, the pre-tax profit was EUR 8.5 million, representing an increase of 124.7%, with a margin of 4.2% (2.1% in the first half of 2013);. And the net profit amounted to 3.9 million, a dramatic increase of 238.8%, with a margin of 2.0% (0.6% in the first half of 2013);; even with anincreased weighting of taxes (2.3% of revenues, a tax rate of 53.7%), net profit rose 238.8% over the same period in 2013.

This is just the start but it is fair to say that things are going reasonably well, commented the Chief Executive Officer, Mr Stefano Porcellini, better than the business plan and better than the targets for the key indicators: growth, profitability and cash flow generation. It is important to stress this as many markets remain weak and the results are therefore a reflection of the quality of our products and our personnel. The investments made in innovation, the commercial network and marketing are gradually providing the expected results but we still believe that the best is yet to come.