Taurus Group has closed a successful fiscal year 2018, marked by the change of ownership and a major business restructuring that has led to the sale of the Brazil division.
Brazil represented 16.7% of the turnover and contributed negatively to the net result of the group.
After this sale, all divisions have a positive contribution to the net result. During fiscal year 2018, Taurus achieved significant growth in all divisions with net sales of 203 million euros (+ 5.6%), an ordinary EBITDA that reached 19.9 million euros (+ 5.9%) , which represents 9.8% of sales, and a net profit from continuing operations of 10.8 million euros (+ 21.4%). This good evolution is based on Western Europe, North America, Asia and Africa.
At December 31, 2018, a net profit of 4.4 million euros was presented, as a result of the negative impact produced by the interrupted operations (Brazil division) worth 6.4 million euros.
The evolution of exchange rates during the year 2018 slowed growth by 4.8%, mainly caused by the Mexican peso, the Indian rupee and the South African rand.
The product development continues to be promoted in the plants distributed throughout the world as a differentiating element with added value for the consumer. An example of success in the exercise has been the Mycook intelligent kitchen robot, designed, developed and manufactured entirely in Spain.
The Group’s forecast is to reach 216 million euros at the end of 2019 while maintaining similar levels of profitability and investment.
Much of the growth of 2019 is the result of the launch of a new range of products under the Black + DeckerTM brand with sales expectations of around 6 million euros. In 2018, the license rights for the Black + DeckerTM brand of small appliances for Europe, Turkey and Russia were acquired.
Within the strategic plan, inorganic growth is contemplated through the acquisition of companies in the same sector both to consolidate positions in the countries in which it operates and to enter new markets