13 November 2020
IMA Group has closed the first nine months of 2020 with consolidated revenue of 1,015.8 million euros compared with 1,008.3 million euros at 30 September 2019. Gross operating profit (EBITDA) before non-recurring charges amounts to 146.6 million euros (133.2 million at 30 September 2019), gross operating profit (EBITDA) to 144.6 million euros (126.2 million at 30 September 2019), operating profit (EBIT) to 75.2 million euros (71.9 million at 30 September 2019) and profit before taxes to 59.8 million euros (118.6 million at 30 September 2019, which included 56.3 million on remeasurement of the fair value of the investment in Atop).
The consolidated backlog reached 919.4 million euros, -14.7% compared with 1,077.3 million euros at 30 September 2019. The orders acquired in the first nine months of 2020 amount to 1,022.8 million euros, down by 7.1% compared with the same period of the previous year. The IMA Group’s net debt at 30 September 2020 amounts to 700.9 million euros compared with 769.3 million euros at 30 September 2019.
IMA Group forecasts for fiscal year 2020
The order trend in our reference sectors was again satisfactory in the third quarter despite the situation linked to the Covid-19 emergency, once again highlighting their resilience. The number of projects under negotiation is a positive sign despite the fact that the situation regarding the current health emergency is continuing to evolve, not only in Italy but also globally. However, the size of the backlog at 30 September is still considerably lower than at the same date last year.
“Based on the information currently available, we believe that Ima Group can achieve a result in line with what was previously announced: a reduction in EBITDA of about 10% compared with 2019” stated the company.
In commenting on the Group’s performance at 30 September 2020, Alberto Vacchi, IMA’s Chairman and CEO, declared: “The result achieved in the first nine months of 2020 reflects the backlog at the end of 2019, the order intake during the period and, above all, a different distribution of revenue compared with last year. In fact, the third quarter was characterised by work that continued unabated even during the month of August and by the delivery of lines for surgical masks to the Civil Defence concentrated in the period of July-September. Our strong commitment to digitisation (IMA Digital) has allowed us to enhance and make accessible the entire range of digital products created by the Group to meet the needs of our customers all over the world, facilitating remote operations”.