May 2, 2023
The company has released its financial results for the full year 2022.
The printing segment accounted for €36.3 million ($39.8 million) of sales, compared to the previous year’s €30.1 million ($33 million) and the electric segment accounted for €18.8 million ($20.6 million) (previous year €16.4 million ($18 million)).
After the sale of the property in Hattingen that is no longer required for operations and the associated loss of rental income, the Holding & Other segment plays a lesser role at €0.2 million ($0.21 million) (previous year €1.8 million ($2 million)).
Turbon explained that the sales growth in the printing segment is partly due to one-off effects and partly to long-term effects, the consolidation of the US business acquired back at the end of June 2021, acquisition of new customers and expansion of business relationships with existing customers.
Consolidated sales in the 2022 financial year amounted to €55.4 million ($60.8million) (previous year €48.2 million ($52.9 million)), which means the company achieved the forecast raised in August 2022.
In its report, Turbon also mentions that profits were also attributable to the sale of the building in Feldkirchen, Austria, which used to be home to Embatex in September 2022. The company also is building up cable production in Romania for its electric segment.
Categories : City News