PRESS RELEASE
CONSOLIDATED RESULTS AT 30 SEPTEMBER 2021
Chairman Fulvio Montipò: "The third quarter is a confirmation of Interpump's extraordinary results, with a performance of absolute excellence in growth and profitability.
Moreover, our effort goes on towards the putting into practice of sustainability topics,
consistently with Group's strategic development plan"
DATA FOR THE THIRD QUARTER OF 2021:
NET SALES: € 373.5 million (€ 314.7 mn in Q3 2020)
EBITDA: € 88.6 million (€ 76.0 mn in Q3 2020)
EBITDA/SALES: 23.7% (24.2% in Q3 2020)
CONSOLIDATED NET PROFIT: € 50.1 million (€ 39.5 mn in Q3 2020)
DATA FOR THE FIRST NINE MONTHS OF 2020:
NET SALES: € 1,154.6 million (€ 954.2 mn in 9M 2020)
EBITDA: € 281.9 million (€ 215.3 mn in 9M 2020) EBITDA/SALES: 24.4% (22.6% in 9M 2020)
CONSOLIDATED NET PROFIT: € 178.4 million* (€103.0 mn in 9M 2020)
FREE CASH FLOW: € 134.9 million (€ 148.6 million in 9M 2020)
- Including € 20.1 mn in future fiscal benefits booked in the period
INTERPUMP GROUP S.p.A. - Via E. FERMI, 25 - 42049 S. ILARIO - REGGIO EMILIA (ITALY) - TEL.+39,0522,904311 FAX. +39,0522,904444 - E-mailinfo@interpumpgroup.it
CAP. SOC. Euro 56,617,232.88 I.V. - REG. IMPRESE R.E. - COD.FISCALE 11666900151 - C.C.I.A.A. R.E.A. N. 204185
NET DEBT: € 174.4 million (€ 269.5 million at 31/12/2020)
(after € 28.8 mn dividends paid, € 9.0 mn disbursement for acquisitions and € 12.3 mn in purchases of treasury shares)
S. Ilario d'Enza, 10 November 2021 - The Board of Directors of Interpump Group S.p.A. met today and approved the consolidated Q3 2021 Interim Report.
THIRD QUARTER 2021 CONSOLIDATED RESULTS
Net Sales for the third quarter of 2021 totaled 373.5 million euro, an increase of 18.7% from the 314.7 million euro in the corresponding period of 2020.
Sales by business sector and geographical area were as follows:
(€/000) | Rest of | |||||
Italy | Rest of | North | Pacific | the | ||
Q3 2021 | Europe | America | Area | World | Total | |
Hydraulics | 52,084 | 92,242 | 62,448 | 31,210 | 24,630 | 262,614 |
Water-Jetting | 9,496 | 40,978 | 39,334 | 13,907 | 7,185 | 110,900 |
Total | 61,580 | 133,220 | 101,782 | 45,117 | 31,815 | 373,514 |
Q3 2020 | ||||||
Hydraulics | 38,836 | 74,948 | 49,958 | 30,238 | 21,293 | 215,273 |
Water-Jetting | 8,085 | 38,943 | 30,866 | 14,832 | 6,702 | 99,428 |
Total | 46,921 | 113,891 | 80,824 | 45,070 | 27,995 | 314,701 |
Organic growth, at unchanged perimeter and before the currency exchange, was +17.9% (+11.3% for Water-Jetting and +20.9% for Hydraulics)
EBITDA amounted to 88.6 million euro (23.7% of sales) compared to 76.0 million euro in the third quarter of 2020 (24.2% of sales)
Consolidated Net Profit for the third quarter was 50.1 million euro, compared to 39.5 million euro for Q3 2020.
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FIRST NINE MONTHS 2021 CONSOLIDATED RESULTS
Net Sales for the first nine months of 2021 totaled 1,154.6 million euro, an increase of 21.0% from the 954.2 million euro in the corresponding period of 2020.
Sales by business sector and geographical area were as follows:
(€/000) | Rest of | |||||||||
Rest of | North | Pacific | the | |||||||
9M 2021 | Italy | Europe | America | Area | World | Total | ||||
Hydraulics | 165,909 | 289,248 | 182,052 | 99,025 | 76,386 | 812,620 | ||||
Water-Jetting | 31,474 | 126,525 | 116,249 | 43,283 | 24,417 | 341,948 | ||||
Total | 197,383 | 415,773 | 298,301 | 142,308 | 100,803 | 1,154,568 | ||||
9M 2020 | ||||||||||
Hydraulics | 118.689 | 229.474 | 161.053 | 82.686 | 52.983 | 644.885 | ||||
Water-Jetting | 26.238 | 114.229 | 98.201 | 43.804 | 26.880 | 309.352 | ||||
Total | 144.927 | 343.703 | 259.254 | 126.490 | 79.863 | 954.237 |
Organic growth, at unchanged perimeter and before the currency exchange, was +22.3% (+12.1% in Water-Jetting, +27.1% in Hydraulics)
EBITDA amounted to 281.9 million euro (24.4% of sales) compared to 215.3 million euro in the first nine months of 2020 (22.6% of sales). The following table sets out EBITDA by business sector:
9M 2021 | % on | 9M 2020 | % on | ||
€/000 | sales | €/000 | sales | Change | |
Hydraulics | 184,311 | 22.7% | 132,885 | 20.6% | +38.7% |
Water-Jetting | 97,628 | 28.2% | 82,369 | 26.5% | +18.5% |
Total | 281,939 | 24.4% | 215,254 | 22.6% | +31.0% |
Operating income (EBIT) was 222.8 million euro compared to 148.5 million euro in the first nine months of 2020.
Consolidated Net Profit for the first nine months of 2021 was 178.4 million euro (was 103.0 million euro in 9M 2020). In the period, some of the Group's Italy-based companies proceeded to a step-up of trademarks for fiscal purposes, as regulated by the applicable Italian law. This operation will result in future fiscal benefits booked in the period for 20.1 million euro.
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Net cash flow from operating activities was 247.9 million euro (182.5 million euro in 9M 2020). Free cash flow in the first nine months of 2021 amounted to 134.9 million euro (148.6 million euro in the same period last year).
Net debt at 30/09/2021 was 174.4 million euro (269.5 million euro at 31 December 2020). In the first nine months of the year, 28.8 million euro were paid in dividends, 12.3 million euro were spent to buy treasury shares, while disbursments for acquisitions amounted to 9.0 million euro. Additionally, at the end of September the Group had commitments for the acquisition of stakes in subsidiaries for a total of 62.4 million euro (62.7 million euro at 31/12/2020).
Capital employed rose from 1,482.2 million euro at 31 December 2020 to 1,551.8 million euro at 30 September 2021, mainly as a result of the increase in net working capital associated with the ongoing recovery in the economy, and of the investments to increase production capacity. Non-annualizedROCE was 14.4% (10.0% in 9M 2020). Non-annualizedROE was 13.6% (9.3% in 9M 2020).
Moreover, our effort goes on towards the putting into practice of sustainability topics, consistently with Group's strategic development plan.
At 30 September 2020 Interpump Group S.p.A. had 2,348,625 treasury shares in its portfolio, representing 2.157% of total share capital, purchased at an average cost of € 30.467.
Pursuant to Article 65-bis, paragraph 2 of Consob Deliberation 11971/1999 as modified and supplemented, the Interim Report at 30 September 2021 is available to the public at the Group's registered office and may be also be consulted on the "Financial Statements and Reports" page in the "Investor relations" section of the Group's website www.interpumpgroup.it, as well on the www.emarketstorage.comrepository.
S. Ilario d'Enza (RE), 10 November 2021 | On behalf of the Board of Directors |
Fulvio Montipò, Chairman |
Carlo Banci, the manager responsible for drafting the company's accounting documents, declares - pursuant to the terms Article 154-bis, paragraph 2 of the Consolidated Financial Services Act - that the accounting disclosures in the present release correspond to the contents of the underlying documents, the accounting books and the accounting entries.
Sant'Ilario d'Enza (RE), 10 November 2021 | Carlo Banci |
Manager responsible for drafting | |
the company's accounting documents |
Media Relations: | Investor Relations: |
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Moccagatta Associati | ir@interpumpgroup.it |
Tel. 02 8645,1695 | Tel. 0522-904433 |
segreteria@moccagatta.it |
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Interpump Group S.p.A. published this content on 10 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2021 11:46:10 UTC.