Biesse S.p.A. reports 1Q net revenues down 12.7%
Biesse S.p.A.,net revenue,EBITDA,wood division,woodworking machinery
The Board of Directors of Biesse S.p.A. reports 1Q 2020 consolidated net revenues of Euro 147.7 million (12.7% less than in the same period in 2019). 1Q 2020 EBITDA was Euro 12.4 million (34.5% less than in the same period in 2019), 8.4% of revenues.
At the end of the 1Q 2020, the value of orders coming in to the Group (for machines) was down by 24.7%, affected by global macro-economic performance and clear factors of uncertainty and instability. Lower the reduction in the order backlog (15.4%), totalling over Euro 189 million at the end of March. The Group's order backlog since the beginning of the year has contracted by 3.8%.
The wood division (74.4%) -remained the largest business division- is larger than glass and stone (15.4%) and mechatronics (12.5%).
Biesse is a global leader in technology for processing wood, glass, stone, plastic and metal.