Turnover: +25%. Margins: +47%. Best second quarter in history thanks to new plants in India and Mexico
In the first half of the year, Sabaf increased its turnover by 24.5%, reaching 143 million euros. The trend in sales and the portfolio in the coming months, the company reports to Il Sole 24 Ore , are projecting the turnover towards an all-time record, thanks to the new production units in Mexico and India and to the components for induction cooking.
Sabaf Group , an Italian multinational among the world leaders in components for household appliances, strengthens its offer in the hinges sector, launching a Hinges Division which brings together three historic brands such as Cmi, Faringosi and Mec , thus becoming the most important manufacturer in the world hinges market for ovens, dishwashers, washing machines, refrigerators, wine cellars, microwave ovens and other domestic appliances.
With around 70 million in turnover, the Hinges Division represents 30% of the group’s turnover , second only to the Gas Division. Thanks to the synergy of the various souls that compose it, the Sabaf Group Hinges Division is able to cover the demand for products from the entire world market , boasting presences in strategic countries such as Italy, Turkey, Poland, the United States and Mexico.
At the next Eurocucina (Fiera Milano Rho, 16-21 April) a primary Sabaf Group customer will present an oven with a Faringosi motorized hinge , which allows the door to be opened and closed in totally automatic mode. From remote control to silence, from resistance to mechanical fluidity, the hinge becomes the axis on which to develop increasingly sophisticated and high tech household appliances
Sabaf is a company listed on the Italian Stock Exchange , which deals with the production of components for domestic gas cooking appliances, has published its financial results for the first nine months of 2022.with revenues up by 0.4% to 201.62 million euros, compared to the 200.77 million obtained in the first three quarters of 2021. gross operating margin which fell from 44.17 million to 33.46 million euro (-24.3%); as a result, margins worsened from 22% to 16.6%.The company’s net debt, given at the end of September 2022, had increased to 78.8 million euros, compared to 67.61 million at the beginning of the year. In terms of investments, Sabaf invested a total of 16.1 million euro in the first nine months of the year, while operating activities generated cash of 13.65 million euro.
However, Sabaf’s management confirmed the forecasts for 2022 which expect to achieve sales of between 253 and 256 million euros, including the consolidation of the fourth quarter results of the newly acquired PGA
Sabaf acquires 100% of the capital of Fabriano’s PGA srl, which has been designing and assembling electronic boards for the household appliances sector for 25 years: suction, refrigeration, air quality control and water supply. PGA2.0 is part of PGA dedicated to the design and prototyping of innovative solutions based on interconnection and the Internet of Things (IoT).The two companies have 36 employees and in 2021 they had a turnover of 11.5 million. The agreement evaluates the company of the brothers Andrea and Paolo Cennimo for 9.76 million euros: 5 times the average annual consolidated Ebitda in the three-year period 2020-2022. 75% of the price will be paid in cash and the rest through the sale of Sabaf shares. Andrea and Paolo Cennimo will remain at the helm of PGA as Managing Directors.
The Sabaf Group is already active in the electronics sector through the Turkish subsidiary Okida Elektronik, a company acquired in 2018 and which is experiencing rapid business development, also thanks to the contribution of Sabaf’s global sales network
Sabaf Group, a historic Italian multinational , one of the world leaders in the sector of components for household appliances , had set itself by creating, with the help of its employees, the book Sabaf Kitchen Book .
For each download, he will donate one euro to Save the Children for the defense of children The cookbook will be available exclusively online at https://www.sabafgroup.com/it/sabaf-kitchen-book from where anyone can download it for free.
The Sabaf Group will donate one euro for each download to Save the Children to support the NPO’s children’s programs. A small drop in the ocean, but with a great value that reminds us how food is not a guaranteed right in every corner of the planet
The WOK atmospheric burner in the 92 HP series is perfect for professional kitchens where this typical round-bottomed pan, so popular in Asian cuisine, is used. Thanks to its components in iron and brass components it is particularly resistant and suitable for use over a long, long time.https://www.arc-gas.it
WHITEGOODSNOW 