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Today, UMBRAGROUP held the staff meeting for the first semester to verify the economic, -equity-financial performance following the approval of the half-year report by the Board of Directors on July 27th. The following is a comment by the Chairman of the Board of Directors, Dr. Antonello Marcucci.

The first half of 2018 ended positively for UMBRAGROUP. In fact, the Group’s results have confirmed our ability to keep up with changes in the international markets. This positive trend encourages us to continue to take on new challenges with enthusiasm: the first of these is the company Thomson® A&D* a licensed brand of Linear Motion LLC. Despite being satisfied with the success of this first semester, it is necessary to continue to concentrate, focusing on both the commercial aspect and the international geopolitical scenario.

Among the various positive elements that emerges from the analysis of the data approved by the Board of Directors, we successfully grew revenues by +9.2% compared to the same period last year. It went from €82.8 million to €90.4 million, and if level of the Euro / USD had remained unchanged, there would have been an increase of 14.1%.  The Bearings sector has seen particularly strong growth. The main operating performance indicators also show a substantial improvement compared to the first half of 2017.

-          Ebitda is up €2.4 million +20.1%, going from €12.9 million to €14.6 million.

-          Ebit grew by €2.13 million +23.5%, going from €9.07 million to €11.2 million.

 With regard to personnel expenses, Working Capital went from €22.982 million to €22.82 million with a decrease of -8.3%, or €2.05 million. In addition to managing many important investments and paying dividends, it is important to emphasize the solid cash generation that made a Positive financial Positon possible, going from €3.0 million in 2017 to €11.4 million in the same period this year.

Looking to the future, it is possible to see a second half of the year that is just as positive, as confirmed by the orders in the portfolio. Although the currency context is still rather volatile, the Group will continue, on the one hand, to monitor sales to our main customers, and on the other hand, to increase production efficiency.

*Thomson® is a registered trademark of Thomson Industries, Inc.

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