Aug 20

2019 financial statements: the ORI Martin Group closes the year with a positive result, confirming its consolidation with 5 acquisitions

Investments, in new technologies as well as in environmental improvement, and new acquisitions: these are the keywords for ORI Martin in 2019. After 2018 which achieved exceptional figures, the Group registers a net financial situation of 71.55 million, while the net assets amount to 383.67 million. Sales revenues rose to 583 million euros (+1.5% from 2018), and EBITDA was 78.8 million (equal to 13.5% of sales).

The total investments made by the Group in 2019 amounted to approximately € 32 million. They mainly involved the modernization and digitization of the furnaces; a new reheating furnace in the Ferrosider rolling plant in Ospitaletto; the completion and commissioning of the roll quenching and drawing plant; the installation of new peeling lines.

As in recent years, the Group has also confirmed significant investments in the improvement of the environmental impact.

The Group's consolidation process also continued in the last year. During May, ORI Martin acquired 100% of the shares of Sapes Spa, while in October acquired ORI Martin Deutschland GmbH (100%), ORI Martin France Sàrl (100%), Trafileria Lariana Drawing Steels Spa (70%) and Lariana Annealing Steels Srl (70%) were completed.

Click HERE to download the press release on the 2019 Financial Statement