(Alliance News) - The board of directors of Marzocchi Pompe Spa on Wednesday approved preliminary consolidated figures for the first half of the year, reporting consolidated net revenues of EUR26.6 million, up 4.4 percent from the first half of 2022, when they were EUR25.5 million, and up nearly 16 percent from the second half of last year.

"Consolidated sales results for the first half of the year represented a further record for the group, further confirming its excellent positioning among the leading players in the industry," the company's note reads.

Growth was driven by both divisions: the Core Business, with sales of EUR21.3 million, marked a plus 2.9 percent over the first half of 2022 and a 17 percent increase over the second half of last year while Automotive, with sales of EUR5.3 million, grew 11 percent year-on-year and 10 percent half-year-on-year.

At the level of geography, the consolidation of the U.S. market is observed, which stands at 36 percent, essentially unchanged from 2022.

The export share rose to 76.6 percent, up from 71.5 percent in the same period last year, mainly due to the European market.

Net financial debt amounted to EUR8.8 million, up 13 percent from December 31, 2022 due to ongoing investments, mainly related to the expansion of production space at the Zola Predosa headquarters.

Gabriele Bonfiglioli, CEO of Marzocchi Pompe, commented, "We are particularly proud of the first half results, as our dgrowth path has continued despite the market being less bright than last year, also due to the continuing inflationary scenario. The further increase in sales was made possible by both the excellent positioning of our products in the market and our responsiveness in delivery times. These results give us even more enthusiasm to continue investing not only in improving productivity and efficiency, but also in strengthening our sales network and further expanding our already very wide range of products."

Marzocchi Pompe's stock on Wednesday closed 0.5 percent in the red at EUR3.72 per share.

By Chiara Bruschi, Alliance News reporter

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