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Piovan (films for food): revenues take off in the 1st half

Revenues at 156 million, net profit 14.7 million (+ 107%)

Piovan, a Venetian group that operates worldwide in the development of production systems and processes for the storage, transport and treatment of polymers, bioresins, recycled plastics, food liquids, food powders, closed the first half of 2021 with revenues with strong growth of € 145.9 million (+ 42.2% compared to € 102.6 million in the first half of 2020).

Ebitda improves both in absolute terms and in percentage incidence on revenues, reaching € 23.3 million, up by 77.9% compared to € 13.1 million in the first half of 2020, with a percentage incidence on revenues and other income equal to 15.9% compared to 12.8% in the same period of 2020.

The operating result was € 19.7 million, up by 90.8% compared to € 10.3 million in the same period of the previous year, with a percentage impact on revenues and other income of 13.5% (10.1% in the same period of 2020). Net profit was € 14.7 million, with an incidence on revenues and other income of 10.0%, an increase of 102.8% to € 7.2 million in the same period of the previous year.

"The excellent results obtained in this first half of 2021 confirm the goodness of the group's strategy in the long term and the choices made by management in managing the pandemic, a period in which the Piovan Group, thanks to its widespread and global presence, was able to support closely its customers, increasing its market share and further strengthening commercial relations”, stated Nicola Piovan , Executive Chairman.

"We are proud of these results, but even more of the awards obtained by the Piovan Group in the field of sustainability and the circular economy, one above all the presence of InspectaBe among the finalists in the Machinery category of the prestigious Sustainability Award 2021 organized by the magazine of Packaging Europe sector. The Piovan Group, in addition to pursuing the strategy of organic growth and through acquisitions, intends to further strengthen investments in technologies for the use of recycled plastic and in sustainability more generally", added Filippo Zuppichin, Chief Executive Officer.

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EFA News - European Food Agency