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Annual Report 2004: total sales break the 1 billion Euro barrier

Net profits at Euro 28.8 million, 300 extra staff , and export quotas up from 80 to 86%

Product, process and service innovation has yielded excellent results. The Sacmi Group balance sheet 2004 closed with a total turnover of 1,063 million Euros, 23.3% higher than in 2003, and net Group profits of 28.8 million Euros. The total value of production also rose significantly to touch 1,153 million Euros, an effective increase of 31.9%. (Ebitda touched 91 million Euros, Ebit 58 million Euros).
Despite unfavourable exchange rates, the proportion of sales accounted for by exports still grew with respect to the preceding year, from 80% to 86%.
Throughout 2004 - explains President Domenico Olivieri - the parent company Sacmi Imola continued the operational and strategic reorganisation that, over the last three years, has raised the number of employees by 6.7% and increased overall sales volumes by 45%. With regard to the Group, instead, the entry of two German companies (Laeis GmbH and Riedhammer GmbH) into the Group contributed to further growth of the workforce; there are now 3,463 employees as opposed to the 3,181 at the end of 2003 (+282).
Total internal and external R&D costs in 2004 amounted to 6.7 million Euros for Sacmi Imola alone – continues Olivieri - while at Group level the figure was higher than 10 million Euros. Global investment, which reached 69 million Euros in 2004, confirms the trend of massive financial commitment to the growth and reorganization of the Group.


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