Italian wood, glass and marble processing machinery manufacturer Biesse posted a pre-tax profit of EUR 24.1 million (USD 28.6 million), up 13.3% year-on-year, in 2005, the company said in a statement …
Italian wood, glass and marble processing machinery manufacturer Biesse posted a pre-tax profit of EUR 24.1 million (USD 28.6 million), up 13.3% year-on-year, in 2005, the company said in a statement on 14 February 2006. Net revenue increased 7.8% on an annual basis to EUR 334.9 million (USD 397.6 million) in 2005. Biesse“s earnings before income tax, depreciation and amortisation (EBITDA) were EUR 42.1 million (USD 50 million), up 51.3% year-on-year, and earnings before income tax (EBIT) rose 84.8% on the year to EUR 27.9 million (USD 33.1 million) in 2005. In the 4Q of 2005, Biesse reported a pre-tax profit of EUR 10.9 million (USD 12.9 million). Net revenue was EUR 108.1 million (USD 128.4 million) from October to December 2005, up 10.4% year-on-year. The company“s EBITDA totalled EUR 16.3 million (USD 19.3 million) and EBIT was EUR 12.3 million (USD 14.6 million) in the 4Q of 2005. Biesse“s net financial debt stood at EUR 25.1 million (USD 29.8 million) on 31 December 2005, down by EUR 26.2 million (USD 31.1 million) from the figure reported at the end of 2004. The net financial position/net financial debt is calculated as the difference between a company“s financial debts and liquid assets. Biesse is based in Pesaro, central Italy, and is traded on the STAR segment of the Italian Stock Exchange (Borsa Italiana) for medium-sized, traditional sector companies.