The pot of Interpump, the world's largest manufacturer of high-pressure pumps, is boiling, ready to go shopping in the hydraulic sector. “Our strategy is to grow also externally through acquisitions – says the managing director Fulvio Montipò -. We are already world leaders in water and therefore it is the sectors with a vast range of products that attract our attention the most”. The “pocket” multinational of Sant'Ilario d'Enza (RE), born from the inspiration, strategic vision and ability of Montipò, seems to be on a war footing again. The 2009 crisis is now behind us, part of the lost ground has been recovered, given that 2010 recorded a 24% growth and brought net revenues to 424,9 million, and now, after a quarterly with sales at 123,7 million, +24,4% and consolidated net profit of 11 million, +92,6%, the aim is to close 2011 well, to be completely out of the loop next year.
“We have a series of dossiers open on the table – comments the president Giovanni Cavallini – to complete the range of our proposals. The sectors we look at are our strengths: hydraulics and accessories and secondly mechanical components". European companies are the ones that interest Interpump the most, which bases its development on excellence, on the identification and coverage of new niches, rather than on delocalization. “We are looking for niche sectors that can develop – underlines the president – the cost of labor has never been a compass for our choices. Consider that one of our best subsidiaries is in Germany. A company that achieves a turnover of 70 million, with a gross profit of more than 30%”. Internationalization is one of Interpump's strengths, present in 20 countries around the world and with an export share of 80% of turnover, most of which is made in Europe (45%), then in North America (35 %), finally in the rest of the world (30%).
Emerging markets, however, are the ones that are growing the best (+18% Europe, +22% North America, + 44% rest of the world): “It is therefore inevitable to take this aspect into account and evaluate new opportunities in countries such as China, India, Brazil – adds Cavallini – where among other things we are already present alone or in partnership. We also have significant market shares in Australia and Chile”.
In short, the news should arrive soon, also to justify the loan of 70 million euros over seven years granted by Banco S. Geminiano e S. Prospero to the Reggio Emilia company. “We wanted this loan – Cavallini points out – also to lengthen the terms of our debt”. While Montipò states: "We will bear any expenses with the company's proceeds, as we have always done". The purchase of American Mobile, the US leader in hydraulic tanks for industrial vehicles is already metabolised. A reality with a turnover of 7,5 million dollars, with an Ebitda of 1,4 million dollars, equal to 19% of sales.
The first sign of a vitality never lost on the part of Interpump, not even in the darkest moments. In 2009 the group, created in '77 and listed in 1996 (in the Star segment since 2001), suffered greatly from the international crisis, but today, after the return to the dividend with the 2010 financial statements (consolidated profit 27,4 million, + 95,9% ) feels he has put the worst behind him. “The current political scenarios don't scare us – underlines Cavallini -. Of course, the discussion would change if the situation degenerated. What can worry us is a new serious financial crisis, above all because this time the States are heavily indebted and could not face it as they did before". In short, the world walks on a razor's edge and this unfortunately appears clear to everyone, but if it maintains a certain balance, the wheel can start turning again. “The sectors on which we depend are construction and transport. And right now you get the impression that things are moving”.
In recent months, the Interpump share has also started to rise again, after having even dropped below two euros ("we were certainly the target of some speculation", observes the chairman). During 2010 Interpump shares grew by 50% and today they are around 6 euros: “and there is still room to grow” he promises.
But how do you become an important, solid group, world leader in your sector starting from scratch: "you don't plan - says Montipò, protagonist of this adventure - you start cooking and little by little you realize you've done a restaurant".
