Announcing its results for the year ending 31 December 2009, the company says that this was a difficult year for sales of investment goods so it received fewer orders and revenue fell by 21.5% to Euro175.1million from Euro 223.1m the year before.
Operating profit was Euro10.9m, a drop of 42.7% from 2008. Cash flow (EBITDA) fell by 39.6% to Euro15.0m in the same period, whilst net profit from continuing operations fell by 58.3% to Euro5.1m.
The company reduced its net financial debt by 15.0m Euro.
However, the company also said that its order backlog at the end of 2009 was 18% higher than at December 2008. New order intake was different from plant to plant and from region to region particularly in the second half of the year.
With this higher order backlog, the company said it is well placed to make a good start in the first quarter of 2010.
The company added that the main risk factors for 2010 are the economic uncertainty affecting the investment climate and consequently order intake, rapid changes in demand, high exchange rate volatility and fluctuating raw material, energy and transport prices.
