Noticias » Faresin Group ends 2008 with a 107 million Euro turnover and consolidates its competitive position. - Telescopic Handler

Faresin Group ends 2008 with a 107 million Euro turnover and consolidates its competitive position.

Noticias

2008 financial statements were presented to stakeholders at the head office of the Faresin Group, the holding company which includes Faresin Building Spa, Faresin Industries Spa and Meccanica Breganzese Spa.
The first positive sign was an increase in the Group’s consolidated turnover, which increased from 95 mln Euro in 2007 to 107 mln Euro in 2008, confirming the positive trend that involved a turnover increase of more than 97% in the past four years.
Despite the market crisis, which started in the second half of 2008, Breganze Group companies managed to consolidate their assets and financial situation, generating a large increase in cash. The gross operating profit was 8.7 Mln Euro.
At the same time, the consolidated shareholder’s equity increased by 5.3 Mln Euro, going from 13.9 Mln in 2007 to 19.2 Mln in 2008. Not only such an increase confirmed the consolidation of assets position, but also the Group’s long-standing policy of reinvesting profits in the company’s business. In fact, the main goal is not only the Group’s expansion, but also the growth of strategic Research and Development for new products, of the competitive system and of business activity, particularly on foreign markets, as well as the growth of its own branches, in order to ensure a balanced development of both the Group itself and of all its companies.
Fair results for Faresin Building Division, which ended the year with a considerable margin increase despite the decline of the building industry, going from 12.5% to 14.6% thanks to the efficient business policies adopted in the past years.
Faresin Industries reported good results as well, as it increased its turnover by more than 6.5 mln Euro compared to 2007 and shows remarkable improvement of financial and asset indicators.
The last company in this review is the youngest company controlled by the Faresin Group and Azzolin brothers, Meccanica Breganzese Spa, which saw its turnover grow by 24% compared to 2007.
Such excellent results must certainly be credited to the large investments made in Research and Development, with more than 8 million Euro for 2008 only, which are yielding good results in terms of competitiveness and are leading to the opening of new markets and core-business.
Finally, a short mention to the goals of these companies for this year, that is proceeding with investments policy, consolidating their business position, continuing product and process research and optimizing all company’s resources. These goals allow the Breganze Group to face the present situation of world markets stagnation with optimism.
The meeting was attended by representatives of the major banking companies, as well as Sace, Finest, Confindustria and API.