Turbon AG FY 2021 sales in line with forecasts

May 3, 2022

Consolidated sales in the 2021 financial year amounted to €48.2 million ($50.7 million) (previous year €41.9 million ($44.1 million).

The original sales were forecasted to be in the region of €46.0 and €49.0 million ($48 and $51 million). The printing segment accounted for €30.1 million ($31.6 million) of sales (previous year €28.3 million ($29.8 million). In the electric (cable) segment sales amounted to €16.4 million ($17.2 million) and the Holding and other segments generated revenues of €1.8 million ($1.9 million).

Turbon said in its announcement that the growth in sales in the printing segment is mainly due to the repurchase of the US business. The Electric segment is exclusively about organic growth. A significant part of the result is attributable to the capital gain from the sale of property in Hattingen.

The company added: “For the current financial year, we are planning consolidated sales of between €52 and €55 million ($55 and $58 million) and believe that earnings before taxes of around €8.3 million ($8.7 million) are achievable.

“The focus is now on the further development of the Electric segment organic and, in suitable cases, inorganic growth as well as the optimisation of the business in the printing segment.”

Categories : City News

Tags : Business Financials Growth Sales Turbon