Carraro has approved the budget project for 2024. The objective of improving margins has been added despite the drop in volumes due to the strong downturn in reference markets.

Carraro recorded a turnover of 736.6 million euros, down 12.96% compared to 846.3 million euros in 2023. Consolidated EBITDA was 80.2 million euros (10.9% of turnover), up in percentage terms and slightly down 1.1% compared to 81.1 million euros (9.6% of turnover); adjusted EBITDA, net of the effects of non-ordinary management, was 81.5 million euros (11.1% of turnover).

Consolidated EBIT is equal to 53.2 million euros (7.2% of turnover), increasing in percentage terms although decreasing by 2.7% compared to 54.7 million euros (6.5% of turnover) in 2023; adjusted EBIT, net of the effects of non-ordinary management, is equal to 54.5 million euros (7.4% of turnover).

The consolidated net result is in strong positive territory for 13.1 million euros (1.8% of turnover) compared to the profit of 19.1 million euros (2.3% of turnover) of 2023; net of the effects of non-ordinary management, and after the related tax effect, the adjusted net result is equal to 14 million euros (1.9% of turnover).

The consolidated net financial position of the management at 12/31/2024 is in debt for 131.4 million euros, a significant improvement compared to 238.6 million euros at 06/30/2024 and also compared to 234.5 million euros at 12/31/2023 thanks to the placement of the Indian subsidiary on the Mumbai Stock Exchange. The stake held in the Indian subsidiary has decreased by approximately 31.2%.

“We are pleased with the results achieved in 2024, despite a significant downturn in our target markets,” commented Enrico Carraro, Group Chairman. “Thanks to our commercial strategy, the launch of new business initiatives, and investments in process and product technological development, we have managed to achieve our goal: improving profitability, with EBITDA growing both in absolute value and percentage terms. This is a significant result, demonstrating the effectiveness of the actions taken in recent years, during which we have focused on innovation to ensure increasingly efficient development of our production platform”.

“The first part of 2025 is still characterized by a challenging context, making it necessary to maintain a strong focus on supporting the Group’s profitability,” added Enrico Carraro. “In the second half of the year, we will benefit from important phase-ins of new products that could generate a recovery in volumes, factors that should allow us to close the year with revenue growth compared to 2024. We believe that any new protectionist dynamics, which are not yet defined, should not have a significant impact on the current year’s results”.

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