Bagnolo in Piano (RE), 31 January 2018 – The Board of Directors of Emak S.p.A. (MTA, STAR), parent company of one of world major groups working in the sectors of outdoor power equipment, pumps and high pressure water jetting, and of the related components and accessories, today reviewed the preliminary consolidated results for the financial year 2017.
Group consolidated sales turnover was € 422.2 million, an increase of 7.8% compared to € 391.9 million in 2016. The change in the scope of consolidation contributed for € 29.7 million.
Sales of the Outdoor Power Equipment business decreased by 4.8% compared to last year. The result was negatively affected by the lack of precipitation in most of Europe, with a reduction of the vegetative activity of plants and, consequently, of the demand for machinery and equipment for the maintenance of green areas.
In the fourth quarter, there were signs of recovery with a turnover growth of 3% compared to the same period of the previous year.
The business Pumps and High Pressure Water Jetting grew overall by 34.8%, thanks to an organic increase of 5.9% and the contribution of the Lavorwash Group consolidation occurred in the second half.
Sales in the Components and Accessories sector increased by 2.8%, with a positive performance of all product lines.
The top management will meet the financial community at the European MidCap Event in Frankfurt on 6 February 2018. The supporting presentation will be available on the company's website and on the eMarket Storage storage mechanism before the start event.
Aimone Burani, the executive responsible for the preparation of the corporate accounting documents, confirms that the preliminary figures presented here are the best representation available today of the results of the Group and that, therefore, could be subject to limited changes during the approval of the draft financial statement, which will take place on March 16, 2018. The data of this press release have not been audited.