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Turbon Q1 margin holds

May 16, 2016

Turbon Group's global headquarters in Germany

Turbon Group’s global headquarters in Germany

Reuters reports 2016 Q1 EBIT of €1.7 million on earnings of € 25.9 million

Turbon announced earning against sales for Q1 and they show that while sales were down margins (EBIT) were stronger at 6.5% and were inline with its March adjustment. Turbon forecasted in October 2015 following the acquisition of Austrian remanufacturer Emabatex AG that it would bring its group revenue to around €110  ($124,509,038) for the year and move the company closer to its medium-term target of €150 million ($165 million). Reuters’ reports that, “Group sales for the full year 2016 are now seen at €106 million ($119,981,436). Result from ordinary activities for the full year 2016, is expected at €7.0 million ($7,923,302).” Turbon reports sales of € 25.9 million against € 29 million in the same period last year and EBIT in the first quarter was  €1.7 million against €1.9 in the same period last year.

 

 

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