Favini, among the global leaders in creating innovative graphic specialties based on natural raw materials, communicates the first half 2017 financial results.

First half sales revenue reached Euro 84,6 million, EBITDA has increased to Euro 11,5 million, being +10,6% (in 2016 it was equal to Euro 10,4 million) and the EBT has reached Euro 4,8 million, equal to 5,7% of sales revenue. Continued excellent level of cash generation, which was Euro 10,8 million in the past 12 months.

The three business units - casting release, graphic specialties and converting products – have substantially contributed to these results, taking the greatest advantage of the market conditions in order to improve profitability and optimize cash generation.  Demand has been stable and strong for all divisions, with a trend which has maintained a positive progression.

Since 2008, when the turnaround fund Orlando has become part of the company, acquiring the major assets and injecting liquidity, Favini has experienced a real escalation of success. Focusing of the activity on R&D and in development of the markets with higher potential have generated the exceptional increase in sales volume and EBITDA over these years. Today, Favini is the largest operator in the world of Casting Release, dedicated to the field of fashion and automotive and a manufacturer of reputation in the world of high end luxury packaging.

Paolo Scarlatti, Managing Partner of the turnaround fund Orlando Italy Management, which has controlled the company since 2008, declares: “Starting from 2008, the fund has initiated the repositioning of the company in the segments of luxury packaging and fashion, presenting itself to the market with a new identity. In 2013, a division of ArjoWiggins was acquired, which has contributed to the recognition of Favini as a world leader in the field of Casting Release.  The strong leaning towards export, the focusing of production in specialty products both for industrial and graphic use, the high level of attention to the needs of the market and the continuous research for solutions, always more and more innovative, are the factors which has led the company to being one of the main players in their sector.  Favini, today, faces the future, remaining strong in tradition and solidarity”.

Eugenio Eger, Favini’s CEO states: “The excellent results of recent years reflect the abilities of Favini to seize market opportunities when the main productive factors offer favourable conditions. The foundation of Favini relies upon a strong presence in in their traditional markets at a global level and a dynamic, yet efficient production structure. We believe that these elements constitute a solid basis for additional improvements and opportunities in the near future”.

The excellent trend for the first half 2017 confirms the very positive 2016 results: the sales revenue reached Euro 158,6 million (against Euro 157,3 million in 2015), of which 70% is thanks to export. EBITDA has increased to Euro 18,1 million, being +16% (whilst in 2015 it was equal to Euro 15,6 million); net profit has reached Euro 4,4, which is + 82% (in 2015 it was equal to Euro 2,4 million). Excellent cash generation has continued, with a decreasing bank debt of Euro 7,9 million.