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
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Sabaf acquires PGA and strengthens itself in electronics
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 Kitchen Book helps save the children
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
ARC is a leader in the development and production of gas burners for professional use
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
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