The Board of Directors of GIMA TT SpA, leader in the sector of automatic machines for the packaging of tobacco products, which met today under the chairmanship of Sergio March, has read the preliminary estimates of the main management figures for 2017.
GIMA TT reported in 2017 preliminary revenues equal to 151,8 million euros, showing a growth of 51,2% compared to the 100,4 million as at 31 December 2016.
Strongly growing gross operating margin (EBITDA) before non-recurring costs relating to the listing increased to 63 million euros (+56,7% compared to 40,2 million at 31 December 2016) and the gross operating margin (EBITDA) increased to 61,7 million euros (+53,4% compared to 40,2 million at 31 December 2016).
In significant increase the order book which reached 110,4 million euro, showing a +24,6% compared to 88,6 million as at 31 December 2016.
La preliminary net financial position it is positive and equal to 45,8 million euros, substantially in line with that of the previous year (45,2 million euros); the figure includes the total outlay of 27 million euros for the payment of dividends relating to the profit for 2016.
When commenting on the data, Sergio March, President of GIMA TT, declared: “We are very satisfied with the Company's preliminary results which outline a strong growth year compared to the previous year. The market has appreciated the great innovative capacity of GIMA TT in designing machines for the packaging of tobacco-derived products and has rewarded us with a significant increase in the order book and with a growing order flow also in the month of January which has just ended. The positive net financial position and the strong cash flow generation will allow us both to implement strategic operations aimed at increasing the value of the Company and to remunerate the shareholders. The preliminary estimates confirm the validity of our strategy focused on the continuous pursuit of excellence in the design of innovative solutions for tobacco packaging, in particular for new generation products with reduced risk”.
The final results for the 2017 financial year will be reviewed by board of Administration of GIMA TT Spa summoned for the 9 March 2018.
