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Turbon aims to increase sales to €150 million

June 29, 2015

The remanufacturer has confirmed it still forecasts sales of €110 million for 2015.turbon logo

Reuters reported on Turbon’s announcement that it “plans to increase” sales to €150 million ($166 million) “in [the] medium term”, while also confirming that its forecast for sales in 2015 of €110 million ($121 million) remains the same, alongside an earnings target “of at least” €6.5 million ($7.1 million).

The company’s latest yearly results included earnings before tax in the 2014 financial year of €10.7 million ($11.6 million), compared to the previous year’s €5.9 million ($6.4 million) – a growth of 81 percent. In turn, the company’s revenue for the year reached €107.9 million ($117.2 million), a growth of 43 percent compared to the previous year’s €75.4 million ($81.9 million).

Consolidated income for the full year came to €7 million ($7.6 million), an increase of 118 percent after €3.2 million ($3.4 million) in the previous year, while it predicts that in 2015, it will see consolidated sales of €105 million ($114 million) and profit before tax of €6.5 million ($7 million). In November 2014, the remanufacturer reported improved third quarter results including an increase in group sales, net income and earnings before tax.

The company reported in August 2014 that both turnover and operating profit figures for the first half of 2014 were “in line with […] expectations and confirm the positive […] trend” after its acquisitions of ILG and Clarity in 2013, and it acquired PBTI’s remanufacturing business and partnered with Embatex in 2014 as well.

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