In a challenging business environment also impacted by the pandemic and unprecedented market volatility the Permasteelisa Group has been able to achieve its targets in fiscal year 2022
Vittorio Veneto, 14 October 2022 - The fiscal year ended March 31, 2022 shows for the Permasteelisa Group an increase in revenues and new order intake, as well as a return to positive profitability levels. In particular, Operating Revenues (EUR 896.1 million) are up 3.8% year on year (EUR 863 million) and EBITDA amounts to EUR 18.2 million, significantly improved compared to the loss of EUR 41.3 million recorded in 2021. These are the outcomes of the new organization implemented at Group level and based on an “agile” structure that allows us to be flexible and reactive to the different opportunities available on our reference markets, but no longer dependent on size.
Another important indicator that confirms the quality of the commercial strategy that has been implemented is the level of New Orders (EUR 999.2 million), which recorded an important increase of +37.7% compared to 2021 (EUR 725.6 million). During the period, the Permasteelisa Group continued to pursue its commercial strategy aimed at securing new orders predominantly in North America (37%), where we marked an important recovery after the difficulties attributable to the COVID-19 pandemic, and Europe (42%), with important new contracts secured mainly in UK, Germany, and Switzerland. In these markets, our customers consider sustainability aspects to be more and more important, and it is here that we make the difference through our proprietary technologies that enable us to be a front runner in terms of ESG in our industry.
Amongst the new orders, we would like to highlight the new Google Landings in Mountain View, designed by Heatherwick Studio, which is the 4th building under development for Google besides those in California and London, the Elbtower designed by David Chipperfield Architects which is set to become the tallest residential building in Hamburg and the new building at the University of the Arts in London designed by Allies and Morrison. In addition, the acquisition of new orders of the Interiors business in Asia has increased to a pre-pandemic level with good profitability.
The backlog remains stable at approximately EUR 1.3 billion, granting almost one and a half years of activity.
Klaus Lother, CEO of the Permasteelisa Group, comments as follows "These results confirm that the strategy adopted back in 2019 is supporting the Group’s positive performance and evolution. We will continue focusing on projects characterized by high complexity and located in markets where our advanced and tailor-made technological solutions are most appreciated by our customers”