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Gefran — Audit Report / Information 2017
Mar 28, 2018
4059_ip_2018-03-28_ed5b360e-9430-48a0-906d-b7bf69b12728.pdf
Audit Report / Information
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MILANO, 28TH MARCH 2018
ENG
1
GEFRAN HISTORY
Gefran was founded in the sixties in Provaglio d'Iseo (Italy) producing electric panels for OEMs in the plastic market.
Today it is a leader in the design and production of electronic solutions for industrial automation.
OUR PATH TO GROWTH
A GLOBAL ORGANISATION
PRODUCT PORTFOLIO IN THE INDUSTRIAL AUTOMATION BUSINESS PRODUCT PORTFOLIO IN THE INDUSTRIAL AUTOMATION BUSINESS
5
PLASTIC: A PRODUCT INTEGRATION EXAMPLE
OUR COMPETITIVE ADVANTAGE
R&D – TECHNOLOGY DEVELOPEMENT DESIGN AND PRODUCTION FLEXIBILITY APPLICATION KNOW HOW
The technological evolution of its products is an important factor for potential future growth
The skills network guaranteed by the cooperation with universities and research centers is a critical resource for the enterprise system ensuring continuous knowledge transfer.
Gefran typically invests more than 5% of its turnover to R&D activities which are concentrated mainly in Italy in company laboratories located in Provaglio d'Iseo and Gerenzano. 15% of the total workforce is dedicated to R&D activities
MOTION CONTROL
Inverters for the speed control of AC, DC and brushless motors. Is a device that provides highly accurate, variable control of the speed of a motor.
| INVERTERS FOR INDUSTRIAL APPLICATION |
High power inverters with or without combination with regenerative power supplies, with different technological levels of product. |
|
|---|---|---|
| LIFT INVERTERS | SIEIdrive lift, a wide range of dedicated products, options and accessories specific for civil lift applications |
MOTION CONTROL
Critical success factors: technology, perofrmance specific application know how
Thanks to these distinctive elements we have the ability and the structure to offer CUSTOM PROJECTS with high level of personalization
| Competitors | |
|---|---|
| INVERTERS FOR INDUSTRIAL APPLICATION |
ABB - SIEMENS - YASKAWA - OMRON - ROKWELL AUTOMATION - SCHNEIDER … |
| LIFT INVERTERS | VACON - MONARCH - STEP - YASKAWA … |
MOTION CONTROL
| 2017 | 2016 | 2015 | |
|---|---|---|---|
| REVENUES | 38.675 | 40.217 | 40.134 |
| EBITDA | -923 | -4.467 | -6.656 |
| EBITDA % | -2,4% | -11,1% | -16,6% |
| EBIT | -3.404 | -6.614 | -8.835 |
| EBIT % | -8,8% | -16,4% | -22,0% |
AUTOMATION COMPONENTS
INSTRUMENTATION AND CONTROLS
POWER CONTROLLERS
PC & PLC'S
Hardware and software for indication and regulation of process variables. Controllers, programmers, indicators and other instruments
Advanced power controllers, solid state power units and solid state relays for Industrial temperature control,
Hardware and software for indication and regulation of process variables. Line of integrated automation solutions that offers a global response to specific automation demands.
AUTOMATION COMPONENTS
Gefran is a leader in the European temperature controllers segment thanks to wide distribution network, personalisation
PC e PLC Critical success factors: reputation, pre-post sales technical support, key customer references, know-how on specific application
| Competitors | |
|---|---|
| CONTROLLERS, PROGRAMMERS, INDICATORS |
EUROTHERM – JUMO – OMRON |
| POWER CONTROLLERS | WATLOW |
| PC – PLC |
ROCKWELL AUTOMATION SIEMENS -B&R – KEBA |
AUTOMATION COMPONENTS
| €'000 | 2017 | 2016 | 2015 |
|---|---|---|---|
| REVENUES | 35.743 | 32.435 | 30.432 |
| EBITDA | 3.667 | 2.401 | 388 |
| EBITDA % | 10,3% | 7,4% | 1,3% |
| EBIT | 1.330 | 577 | -1.632 |
| EBIT % | 3,7% | 1,8% | -5,4% |
Devices that convert a physical quantity into an electric signal in the industry automation (machines)
Gefran SENSORS ensure HIGH ACCURACY and RELIABILITY in the measurement of process variables: PRESSURE, POSITION, TEMPERATURE and FORCE.
ROTARY, TILT, INCLINATION & POSITION for Mobile Hidraulyc
PRESSURE, POSITION & FORCE for plastic machines automation
PRESSURE, POSITION & FORCE for plastic machines automation
Critical success factors: technology, product quality.
Competitive advantage: In-house design and production of primary elements. Patents. Know how
| Phisical entity measured |
Competitors |
|---|---|
| PRESSURE | WIKA - IFM – DANFOSS - HIDAC |
| MELT PRESSURE | DYNISCO |
| POSITION | MTS BALLUFF NOVOTECNIK |
| FORCE | CELESCO |
| ROTATIVE TILT & POSITION | BAUMER ELOBAU AB ELECTRONIK |
| €'000 | 2017 | 2016 | 2015 |
|---|---|---|---|
| REVENUES | 58.437 | 50.069 | 47.630 |
| EBITDA | 16.295 | 13.390 | 11.949 |
| EBITDA % | 27,9% | 26,7% | 25,1% |
| EBIT | 13.223 | 11.152 | 9.837 |
| EBIT % | 22,6% | 22,3% | 20,7% |
2015 - 2017 PROFIT&LOSS
| 2017 | 2016 | 2015 | |||||
|---|---|---|---|---|---|---|---|
| €'000 | % vs revenues | €'000 | % vs revenues | €'000 | % vs revenues | ||
| REVENUES | 128.639 | 100,0% | 119.330 | 100,0% | 115.352 | 100,0% | |
| GROSS MARGIN | 85.504 | 66,5% | 78.723 | 66,0% | 77.795 | 67,4% | |
| EBITDA | 19.039 | 14,8% | 11.324 | 9,5% | 5.681 | 4,9% | |
| EBIT | 11.149 | 8,7% | 5.115 | 4,3% | -630 | -0,5% | |
| NET RESULT | 6.864 | 5,3% | 3.948 | 3,3% | -4.769 | -4,1% |
TURNOVER BY BUSINESS AND GEOGRAPHY
2015 - 2017 EBIT %
2015 – 2017 BALANCE SHEET
| €'000 | 31 Dec 2017 | 31 Dec 2016 | 31 Dec 2015 |
|---|---|---|---|
| Net Fixed Assets |
59.901 | 61.460 | 63.126 |
| Working capital |
30.621 | 35.754 | 40.166 |
| Other net assets/payables |
-9.554 | -9.925 | -8.655 |
| Net Working Capital |
21.067 | 25.829 | 31.511 |
| Other non current assets | -7.491 | -8.677 | -8.129 |
| Asset available for sales | 1.214 | 1.214 | 1.354 |
| Net Invested Capital | 74.691 | 79.826 | 87.862 |
| Shareholders' Equity | 69.911 | 66.908 | 62.984 |
| Short-term financial debt |
-9.153 | -3.127 | 13.999 |
| Long-term financial debt | 13.933 | 16.045 | 10.879 |
| Net Financial Position | 4.780 | 12.918 | 24.878 |
| Total Sources of Funding | 74.691 | 79.826 | 87.862 |