Favini posts first-half growth Revenues up 4.3% to 82 million euros
Favini, a global leader in the manufacture of innovative graphic specialties using natural raw materials (e.g. cellulose, algae, fruit and nuts), has published its financials for the first half of 2015.
The company continues to grow apace with revenues reaching 82 million euros, up 4.3% from the 78.6 million of 2014, while also confirming the group’s dedication to international markets with exports accounting for over 70% of total sales.
EBITDA has posted double-digit growth of 23.9%, going from the 7.2 million of 2014 to 8.9 million euros for the current year, equal to a margin of 10.8%. This growth has been driven by integration of the Arjowiggins business acquired by Favini at the end of 2013, which has helped neutralize the negative impact of the sharp increase in the cost of raw materials.
Graphic specialties and converting products, which combined to account for 54.8% of overall revenues, have also confirmed the strong performance posted in 2014.
Eugenio Eger, CEO of Favini, says: “Revenues continue to grow as overall performance also improves, driven by the excellent results achieved in the release sector. Global demand for these products remains strong on the whole, backed by greater dynamism in the automotive segment.”