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    NEA   ES0166300212

NICOLÁS CORREA, S.A.

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Nicolas Correa : Nicolás Correa Annual Agents Conference for the Asian Market

01/23/2018 | 10:19am EDT

Nicolás Correa Annual Agents Conference for the Asian Market, held last January 18 in Kunming, revealed very positive data for the company

On January 18, the Nicolás Correa Annual Agents Conference for the Asian Market was held in the facilities of GNC Kunming, in Yunnan province. During the event, which was attended by around 40 agents from 12 different regions, the company presented the results obtained during the last year: in 2017, GNC Kunming set a new record of sales in the Chinese Market while Nicolás Correa S.A. achieved its sales goal in Asia for the 2017.

The meeting schedule started with a visit to the GNC Kunming plant where its president, Mr. Walson Zheng, delivered a speech to visitors. After that, three under production milling machines were presented: Diana, FP and Euro models. Agents could see the different assembly stages of these machines as well as some of its innovations such as the new automatic tool change system (ATC24) implemented in the Diana's model. The main attraction of the visit was the first model of EURO 2000 manufactured in the GNC Kunming plant. In addition, agents could see the machining process of Versa 145 model, contemplating the technology developed and patented by Nicolás Correa. During the conference meeting, Nicolás Correa agents reviewed the results of 2017, defined the action parameters for 2018, the market's forecast, as well as the main goals and suggestions for backlog improvement. These results confirm the good position of Nicolás Correa S.A. at the Asian market and emphasize the company's growth target.

Nicolás Correa Group counts with an integrated and synergetic network of industrial subsidiaries linked to the machine tool sector: GNC Calderería, Hypatia, Electrónica, placed in Burgos, and GNC Kunming, in China. Each of them acts to gradually increase the resources generated through a significant contribution of external business to the Group. The industrial subsidiaries are characterised by the speed, flexibility and competitiveness typical of small and medium-sized enterprises (SMEs).

GNC Kunming, created in 2007, assembles mass-produced milling machines and its strategy is based on the production of standard machines to meet the demand of part of the Chinese market.

Nicolas Correa SA published this content on 23 January 2018 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 23 January 2018 15:19:04 UTC.


© Publicnow 2018
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Financials
Sales 2021 73,2 M 85,8 M 85,8 M
Net income 2021 6,50 M 7,62 M 7,62 M
Net cash 2021 4,10 M 4,81 M 4,81 M
P/E ratio 2021 11,3x
Yield 2021 2,99%
Capitalization 68,8 M 80,8 M 80,7 M
EV / Sales 2021 0,88x
EV / Sales 2022 0,78x
Nbr of Employees 346
Free-Float 59,1%
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Last Close Price 5,68 €
Average target price 7,25 €
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