November 7, 2014
The results, from Reuters, show that the remanufacturer reported nine-month – or third quarter – sales results, including an increase in group sales of 43.2 percent from €55.9 million ($69.3 million) last year to €80.1 million ($99.3 million), with consolidated net income increasing by 125 percent from €2.4 million ($2.9 million) to €5.4 million ($6.6 million). Additionally, it expects full-year revenue of over €105 million ($130 million), and increased its earnings before tax (EBT) forecast to €9.5 million ($11.7 million).
In terms of its EBT compared to last year, Turbon reported an increase from €2.6 million ($3.2 million) to €7.6 million ($9.4 million), a growth of 192 percent, whilst earnings before interest and tax (EBIT) increased from €4.5 million ($5.5 million) last year to €8.2 million ($10.1 million) this year, a growth of 82 percent over 2013.
The company reported in August that both turnover and operating profit figures for the first half of 2014 “are in line with […] expectations and confirm the positive […] trend” after its acquisitions of ILG and Clarity in 2013, and it recently acquired PBTI’s remanufacturing business and partnered with Embatex.
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