The trading performance of tile production equipment manufacturers is continuing to improve, led by specialists in digital decoration. The fourth edition of Acimac Research’s report titled “Financial statement analysis of world manufacturers of machinery for the ceramic and brick industries and glaze and colour producers” evaluated the performance of 213 companies operating in 14 different countries.
In the tile, sanitaryware, tableware and heavy clay machinery segment – which covers 172 companies, including 138 operating in Italy - one of the key findings of the 2015 financial statement analysis is that the Italian industry continued its process of recovery with a further improvement in productivity, profitability and financial health. In particular, companies in this sector achieved significant growth in EBITDA of 7.35% in 2015; with net profits up 3.8%. But, despite the improvements, Acimac believes that the degree of capitalisation of companies is still insufficient, resulting in an excessive use of third-party capital as evidenced by an Equity Ratio of 24.7%.
Gross industrial productivity, as measured by added value margin, remained almost constant at 30%, although an improvement in inventory cycle efficiency was observed. Added value per employee reveals an increase in labour productivity due to optimisation of the use of labour and investments in more capital-intensive manufacturing technologies.
The study also revealed that the best performances were posted by medium-sized companies with turnovers of between Euro 10 and 40 million.
In 2015 the best average management performances were posted by companies that manufacture digital tile decorating machines (average EBITDA 10.31% and average net profits 6.87%) and machinery for ceramic product finishing (EBITDA 9.77% and net profits 7.76%).
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