Ceramiche Piemme reports turnover growth and makes new hi-tech investments
Ceramiche Piemme reported 12% year-on-year revenue growth in 2021 to reach €80 million and an EBITDA of 12.76%, equivalent to €10.3 million. Exports accounted for 87% of total revenue, principally to France and the USA followed by Germany. Net profit exceeded €1.5 million, while financial debt fell by 18.3% compared to 2020.
“We are pleased with the results because they vindicate the decisions we have made over the years and encourage us to continue our efforts with great pragmatism,” says CEO Sergio Bondavalli.
The company is reaping the benefits of its new 2021-2025 business plan, which envisages a number of investments over the five-year period, from process and product innovation to the expansion of the sales network. In mid-2021, for example, the company set up its American branch Ceramiche Piemme USA which has offices in New York and a logistics hub in Chicago. These actions have already begun to significantly cut costs and generate economies of scale that have a positive impact on the balance sheet.