|
Positive results and rising indicators largely confirm the strategic decisions made by the company
|
|
|
|
|
|
|
April 19 2011 - CONSOLIDATED FINANCIAL STATEMENT 2010 APPROVED
The Florim Board of Directors recently approved the consolidated financial statements for 2010, which ended with very positive results again this year, despite the continued negative performance in the sector, largely confirming the strategic decisions made by the company.
The company ended 2010 with more than 270 million euro in revenue, posting an increase of 5.3% compared to 2009, gross cash flow of 40 million euro (compared to the 24.4 million euro reported in 2009) and net consolidated income of 15 million euro compared with the 3.4 million euro last year. EBITDA was significantly higher, rising from 36 to 42 million euro and accounting for 13.8% of sales as compared to 15.3%.
Despite the 30 million euro invested in 2010 for upgrading the systems and innovating the products, the net financial position grew by 26 million euro, partly due to the decrease in inventory and partly due to the liquid cash flow generated by operations.
A major factor in the improvement was the American subsidiary of the Group, Florim USA, with a production plant located in Tennessee and a logistics center in Georgia.
Florim is also announcing that 2011 has commenced on a positive note and the company plans to continue its investment policies, with plans to invest more than 40 million euro in 2011/2012.
 financial statement, italian ceramics
|
|
« Florim Solutions App for iPhone and iPad launch | Florim has won the prestigious “RSI” Prize »
|
|
|
|
