Cefla reports record results in 2023 despite global uncertainties

Despite a complicated macroeconomic context, marked by international conflicts and rising interest rates, the Cefla Group ended 2023 with an outstanding economic and financial performance. According to the press release issued by the company, consolidated turnover amounted to €684.9 million, up 5.8% compared to 2022.

Sales in the Italian market increased by 4.2 percentage points to 47.2% of total turnover, thanks to the expansion of activities in the Engineering BU, which operates mainly in the Italian industrial plant market.

Cefla Group's net profit reached €66 million and EBITDA amounted to €92 million in 2023. Shareholders' equity strengthened to €403m (+15% vs. 2022), reflecting the company's financial strength.

These results are the fruit of specific strategic actions implemented by Cefla's business divisions to meet the challenges of the global socio-economic environment while protecting market share. The directions pursued include: the Engineering division's focus on the energy transition and the development of new fuel cell plants; the operational and organizational simplification and change strategy adopted by the Finishing division to maintain its leadership position; the careful management of supply chains; and the continued investment in innovation and digitalization by the Medical Equipment division.

In 2023, Cefla also allocated around €13.5 million to research, development and innovation in its divisions, as well as €2.5 million for sustainability and energy efficiency projects aimed at reducing energy consumption at the Imola headquarters. These investments enabled a 7% reduction in consumption in tons of oil equivalent compared to the previous year.

"Technological innovation, artificial intelligence projects and green transition are at the center of our vision. The 2023 result confirms our willingness to invest in all Cefla's business lines, with the overriding objective of maintaining a solid presence in markets with maximum competence," said Paolo Bussolari, Cefla CEO.

For his part, Chairman Gianmaria Balducci emphasized: "Despite the extremely uncertain context, Cefla is based on solid foundations, with a large customer portfolio, an excellent reputation and an increased international visibility thanks to the very good results achieved. Our Group has made a strength of its ability to build connections between different markets. Our approach to the future is evolving, but responsibility, commitment and a strong focus on innovation remain our core objectives."

Over its 90 years of existence, Cefla has evolved from a small cooperative specializing in electrical and thermo-hydraulic installations, founded in 1932 in Imola, to a global multi-sector group. The company has gradually expanded its business, entering areas such as shopfitting (1950), surface finishing (1964), dental medical equipment (1998), LED lighting and agricultural technologies (2016). The internationalization process started in the 1980s, with Cefla consolidating its leading position in its four main business sectors in the 2000s.

Source Cefla