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Marzocchi Pompe
Earnings Release • Jul 24, 2024
4444_10-q_2024-07-24_d3eab620-e2ce-4d63-846e-d58684903d04.pdf
Earnings Release
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PRESS RELEASE
MARZOCCHI POMPE ANNOUNCES PRELIMINARY FIGURES FOR THE H1 2024: TOTAL NET REVENUES OF EURO 22 MILLION (- 17.3% COMPARED TO H1 2023)
DETAILED:
- CORE BUSINESS1 REVENUES: -13.1% VS. H1 2023
- AUTOMOTIVE SALES: -33.8% VS. H1 2023
- ADJUSTED NET FINANCIAL POSITION2 AT EURO 7.0 MN VS. EURO 5.3 MN AT END-2023
Bologna, 24 July 2024 - The Board of Directors of Marzocchi Pompe S.p.A. (EGM: MARP), a leading company in the design, production and marketing of high-performance gear pumps and motors, met on 24 July 2024 and concluded late in the evening, approved the preliminary consolidated figures for the first half of 2024, which confirm the expected drop in revenues, mainly due to the slowdown in the industrial sector observed in 2024 in world markets, particularly in the automotive market.
Consolidated net sales totalled euro 22.0 million, down 17.3% compared to the first half of 2023, which amounted to euro 26.6 million, and down 4.8% compared to the second half of 2023; this decrease is in line with the industry trend.
Consolidated sales for the first half of 2024 were affected by a general slowdown in the European and American industry, with particular reference to the automotive sector, which saw a 33.8% drop in volumes, from euro 5.3 million in H1 2023 to the current euro 3.5 million in this first half of 2024.
The Core Business segment also suffered a decrease, although to a lesser extent than the automotive segment, with sales amounting to Euro 18.5 million compared to Euro 21.3 million in the first half of 2023 (-13.1%), but +1.2% compared to the second half of 2023.
At the geographic area level, there was a slight increase in the Italian market, which rose to 29%, while the export share stood at 71%, substantially unchanged compared to the whole of 2023 (71.6%).
Net financial debt increased to Euro 7.0 million, up 32.10% from 31 December 2023 (Euro 5.3 million) due to the investments being made, mainly related to the expansion of the production premises at the Zola Predosa site. At 30 June 2023, NFP was equal to euros 8.3 million debt.
MARZOCCHI POMPE S.P.A.– Direzione e Coordinamento di ABBEY ROAD S.R.L.
Via A. Grazia, 2 – 40069 Zola Predosa (Bo) Italy – Tel (+39) 051/6137511 Fax (+39) 051/592083
Nr. M. Bo 047739 – N.REA 422251 – Registro Imprese /Cod. Fisc. 03285900969 – P.IVA IT 03285900969 – C.S. Euro 6.538.750,00 i.v.
e-mail: [email protected]:[email protected] - Web: www.marzocchipompe.com
1 Core Business Revenues (high-performance external gear pumps and motors for various industrial sectors) are obtained by deducting the Automotive market revenues from Total Sales Revenues
2 Net of € 5.0 million of three- and six-month term bank savings deposits set up by the Parent Company and US\$ 0.5 set up by the subsidiary Marzocchi Pumps U.S.A., in the period to 30 June 2024, which will be reclassified under other receivables in current assets (C.II.5quater)
Gabriele Bonfiglioli, CEO of Marzocchi Pompe, commented:
"The current market contraction at global level could not fail to have an effect on Marzocchi Pompe revenues as well, which, after all, in the last two years had shown record values.
The drop in the automotive sector, apart from the uncertainty that reigns over that sector, as expected is also linked to the lifecycle of some end applications: in the last few years we have acquired new orders, which, however, will develop over a longer time horizon.
On the other hand, we continue to consider the decline in core business to be only temporary, as shown by the comparison with the second half of 2023 (+1.2%).
In these months, the Group is therefore continuing its investment programme in both the logistics and production areas, in order to be ready and even more competitive at any sign of market recovery".
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The complete and final consolidated figures for the first half of 2024 will be examined and approved by the Board of Directors meeting on 27 September 2024, while the auditing activities by the independent auditors (PriceWaterhouseCoopers S.p.A.) are currently underway.
The press release is available at www.marzocchipompe.com and on the authorised storage mechanism .
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Marzocchi Pompe S.p.A.
Marzocchi Pompe is a leading company in the design, production and marketing of high-performance gear pumps and motors, which find application in various fields: industrial, mobile and automotive. Founded in 1949, it is controlled by the Marzocchi family, which holds the majority of shares and is represented in the company by Paolo Marzocchi, Chairman, and his son Carlo, Deputy Chairman. The shareholding structure also includes CEO Gabriele Bonfiglioli and three other managers. Production is carried out entirely in Italy at the two sites in Casalecchio di Reno (BO) and Zola Predosa (BO). Marzocchi Pompe is present in over 50 countries through an international distribution network.
Marzocchi Pompe S.p.A. Integrae SIM S.p.A. – Euronext Growth Advisor
CDR Communication – Investor Relations e Media Relations Paola Buratti (IR) [email protected] Martina Zuccherini (Media) [email protected]
Gabriele Bonfiglioli, CEO & IR [email protected] Francesco D'Antonio [email protected] Diego Carmignani [email protected]
e-mail: [email protected]:[email protected] - Web: www.marzocchipompe.com