Ilpra closes 2020 with a jump in profit
The share of turnover abroad is also growing, equal to 69% of the total
Ilpra's Board of Directors approved the draft financial statements and the consolidated financial statements at 31 December 2020. Revenues amounted to Euro 32.4 million, + 1% compared to Euro 32.0 million in 2019. Those achieved in Italy are equal to Euro 10.2 million compared to Euro 11.3 million in 2019, and represent 31% of the total (35% in 2019). Revenues achieved abroad are equal to Euro 22.2 million, an increase of 7% compared to Euro 20.7 million in 2019 and represent 69% of the total (65% in 2019), confirming the effectiveness of the strategy of internationalization undertaken by the Group. The value of production is equal to Euro 36.3 million, an increase of 5.8% compared to Euro 34.4 million in 2019.
The Gross Operating Margin stood at Euro 6.2 million, up by + 36.8% compared to Euro 4.5 million in 2019, corresponding to an EBITDA margin compared to sales revenues of 19.0%, up compared to 14.0% in 2019. The Net Operating Margin is equal to Euro 4.2 million, + 54.1% (Euro 2.7 million in 2019). The EBIT margin stood at 12.9%, up compared to 2019 (8.5%). The pre-tax result is equal to Euro 4.0 million and records a significant increase equal to + 62.9% compared to Euro 2.4 million in 2019. Net profit stands at Euro 3.2 million, up by + 51.9% (€ 2.1 million in 2019). The Net Profit margin stood at 9.9%, up compared to 2019 (6.6%).
The Net Financial Position, equal to Euro 1.9 million, records an improvement of Euro 4.5 million compared to 31 December 2019 (Euro 6.5 million), with cash and cash equivalents of Euro 9.9 million (Euro 3.1 million as of December 31, 2019). Shareholders' equity is equal to Euro 21.1 million (Euro 17.3 million at 31 December 2019).
During the 2020 financial year, the Group, in continuity with what it carried out in 2019, continued its Research and Development activities for technological innovation aimed at significantly improving production techniques and the range of company products, focusing on increasingly more technologies. oriented towards energy efficiency, environmental sustainability, integrated production models and IoT technologies that allow us to offer customers predictive maintenance services.
Maurizio Bertocco, Chairman and Chief Executive Officer, comments: "2020 ended for the Ilpra Group with positive performance in terms of margin growth, a result that takes on an even more significant value in consideration of the global socio-economic context, proving the sustainability of the business model, industrial project and strategies pursued. We close the year with double-digit growth in terms of EBITDA, EBIT and net profit, more than proportional to revenues. The results obtained also allow us to announce for this year the distribution of a dividend of 0.06 euros per share with a pay-out ratio of 35%. We face 2021 with renewed confidence and with constant attention to Research and Development that has always characterized us".
A gross ordinary dividend of € 0.06 per share has been proposed (35% pay-out ratio, 2.44% dividend yield).
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