PRESS RELEASE
INTERPUMP GROUP APPROVES
THE CONSOLIDATED RESULTS AT 30 SEPTEMBER 2020:
A QUARTER OF RECOVERY
Chairman Fulvio Montipò: "The third quarter registered a much-awaited improvement compared to the previous periods; in this quarter, Interpump improved the EBITDA margin, achieved a very good cash generation, and reduced net debt"
DATA FOR THE THIRD QUARTER OF 2020:
NET SALES: € 314.7 million (€ 322.9 mn in Q3 2019)
EBITDA: € 76.0 million (€ 78.1 mn in Q3 2019)
EBITDA/SALES: 24.2% (24.2% in Q3 2019)
CONSOLIDATED NET PROFIT: € 39.5 million (€ 43.3 mn in Q3 2019)
DATA FOR THE FIRST NINE MONTHS OF 2020:
NET SALES: € 954.2 million (€ 1,026.1 mn in 9M 2019)
EBITDA: € 215.3 million (€ 240.3 mn in 9M 2019)
EBITDA/SALES: 22.6% (23.4% in 9M 2019)
CONSOLIDATED NET PROFIT: € 103.0 million (€135.5 mn in 9M 2019)
FREE CASH FLOW: € 148.6 million (€ 76.0 million in 9M 2019)
NET DEBT: € 310.7 million (€ 370.8 million at 31/12/2019)
(after € 28.2 mn dividends paid, € 48.4 mn disbursement for acquisitions and € 31.8 mn in purchases of treasury shares)
INTERPUMP GROUP S.p. A. - Via E. FERMI, 25 - 42049 S. ILARIO - REGGIO EMILIA (ITALY) - TEL.+39,0522,904311 FAX. +39,0522,904444 - E- mail info@interpumpgroup.it
CAP. SOC. Euro 56,617,232.88 I. V. - REG. IMPRESE R. E. - COD. FISCALE 11666900151 - C.C.I. A.A. R.E. A. N. 204185
S. Ilario d'Enza, 10 November 2020 - The Board of Directors of Interpump Group S.p.A. met today and approved the consolidated Interim Report at 30/09/2020.
Q3 2020 RESULTS
Net Sales for the third quarter of 2020 totaled 314.7 million euro, a decrease of 2.5% from the 322.9 million euro in the corresponding period of 2019.
Sales by business sector and geographical area were as follows:
(€/000) | ||||||
Rest of | ||||||
Q3 2020 | Rest of | North | Pacific | the | ||
Italy | Europe | America | Area | World | Total | |
Hydraulics | 38,836 | 74,948 | 49,958 | 30,238 | 21,293 | 215,273 |
Water-Jetting | 8,085 | 38,943 | 30,866 | 14,832 | 6,702 | 99,428 |
Total | 46,921 | 113,891 | 80,824 | 45,070 | 27,995 | 314,701 |
Q3 2019 | ||||||
Hydraulics | 39,320 | 72,772 | 56,366 | 19,408 | 18,962 | 206,828 |
Water-Jetting | 9,901 | 42,422 | 36,168 | 18,955 | 8,656 | 116,102 |
Total | 49,221 | 115,194 | 92,534 | 38,363 | 27,618 | 322,930 |
Organic growth, at unchanged perimeter and before the currency exchange, was -10.8%(-13.1% for Water-Jetting and -9.5% for Hydraulics)
EBITDA amounted to 76.0 million euro (24.2% of sales) compared to 78.1 million euro in the third quarter of 2019 (also 24.2% of sales)
Consolidated Net Profit for the third quarter of 2020 was 39.5 million euro, compared to 43.3 million euro for Q3 2019.
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CONSOLIDATED RESULTS FOR THE FIRST NINE MONTHS OF 2020
Net Sales for the first nine months of 2020 totaled 954.2 million euro, a decrease of 7.0% from the 1,026.1 million euro in the corresponding period of 2019.
Sales by business sector and geographical area were as follows:
(€/000)
Rest of | ||||||
Rest of | North | Pacific | the | |||
9M 2020 | Italy | Europe | America | Area | World | Total |
Hydraulics | 118,689 | 229,474 | 161,053 | 82,686 | 52,983 | 644,885 |
Water-Jetting | 26,238 | 114,229 | 98,201 | 43,804 | 26,880 | 309,352 |
Total | 144,927 | 343,703 | 259,254 | 126,490 | 79,863 | 954,237 |
9M 2019
Hydraulics | 137,819 | 245,069 | 168,701 | 63,170 | 66,472 | 681,231 |
Water-Jetting | 30,990 | 128,143 | 110,518 | 46,772 | 28,479 | 344,902 |
Total | 168,809 | 373,212 | 279,219 | 109,942 | 94,951 | 1,026,133 |
Organic growth, at unchanged perimeter and before the currency exchange, was -16.2%(-19.3% in Hydraulics, -10.2% in Water-Jetting)
EBITDA amounted to 215.3 million euro (22.6% of sales) compared to 240.2 million euro in the first nine months of 2019 (23.4% of sales). The following table sets out EBITDA by business sector:
9M 2020 | % on | 9M 2019 | % on | ||
€/000 | sales | €/000 | sales | Change | |
Hydraulics | 132,885 | 20.6% | 144,598 | 21.2% | -8.1% |
Water-Jetting | 82,369 | 26.5% | 95,687 | 27.6% | -13.9% |
Total | 215,254 | 22.6% | 240,285 | 23.4% | -10.4% |
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Operating income (EBIT) was 148.5 million euro compared to 189.1 million euro in the first nine months of 2019.
Consolidated Net Profit for the first nine months of 2020 was 103.0 million euro (was 135.5 million euro in 9M 2019).
Net cash flow from operating activities was 182.5 million euro (195.3 million euro in the corresponding period of 2019). Free cash flow in the first nine months amounted to 148.6 million euro (76.0 million euro in the first nine months of 2019).
Net debt at 30 September 2020 was 310.7 million euro (370.8 million euro at 31 December 2019). In the first nine months of the year, 31.8 million euro were spent in treasury shares, while disbursments for acquisitions amounted to 48.4 million euro. Additionally, at the end of September the Group had commitments for the acquisition of stakes in subsidiaries for a total of 58.0 million euro (54.3 million euro at 31/12/2019).
Capital employed went from 1,480.2 million euro at 31 December 2019 to 1,478.1 million euro at 30 September 2020, due to the opposite effects of the reduction of net working capital, on one side, and the acquisition of Transtecno on the other. Non-annualizedROCE was 10.0% (13.7% in 9M 2019). Non- annualized ROE was 9.3% (14.2% in 9M 2019).
At 30 September 2020 Interpump Group S.p.A. had 1,770,006 treasury shares in its portfolio, representing 1.625% of total share capital, purchased at an average cost of € 26.171.
UPDATE ON COVID-19 PANDEMIC
The third quarter and the following weeks saw the continuation of the much-awaited increase trend in both sales and orders, which brought as a consequence the pickup of activity at all Group production sites.
Thanks also to strict compliance with safety provisions, both legal and corporate, Interpump's working environments can be considered to be at almost negligible risk of infection. The only fatal case of Covid- 19 among the Group's 8,000+ employees, registered in the United States, has been traced back to a contagion occurred outside of the workplace.
Pursuant to Article 65-bis, paragraph 2 of Consob Deliberation 11971/1999 as modified and supplemented, the Interim Report at 30 September 2020 is available to the public at the Group's registered office and may be also be consulted on the "Financial Statements and Reports" page in the
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Interpump Group S.p.A. published this content on 10 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2020 10:38:02 UTC