Cefla reports record results in 2023 despite global uncertainties

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

Sales in the Italian market increased by 4.2 percentage points to 47.2% of total turnover, due 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 was €92 million in 2023. Equity strengthened to €403 million (+15% compared to 2022), reflecting the company's financial strength.

These results are the fruit of specific strategic actions implemented by Cefla's business divisions to face the challenges of the global socio-economic environment while protecting market shares. Among the directions followed are: the focus of the Engineering division on energy transition and the development of new fuel cell plants; the strategy of operational and organisational simplification and change adopted by the Finishing division to maintain its leadership position; the careful management of supply chains; and the continuous investments in innovation and digitalisation of the Medical Equipment division.

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

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

For his part, President Gianmaria Balducci underlined: "Despite the extremely uncertain context, Cefla is built on solid foundations, with a large portfolio of customers, an excellent reputation and an increased international visibility thanks to the very good results achieved. Our group has made an asset 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 the 90 years of its existence, Cefla has evolved from a small cooperative specialising 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 internationalisation process began in the 1980s, with Cefla consolidating its leading position in its four main business sectors in the 2000s.

Source Cefla