August 14, 2015
The European remanufacturer’s sales increased in the first half of the year to €56.8 million.
Reuters reported on the sales increase and other quarterly results, with the sales increase of 6.6 percent to €56.8 million ($63.2 million) a growth of €3.5 million ($3.8 million) from the “comparable period of the previous year”. In turn, the company’s earnings before income tax for the first half of 2015 came to €3.8 million ($4.2 million), a fall from the previous year’s €5.6 million ($6.2 million).
In terms of consolidated net profit for the first half of the year, Turbon reported a fall from €3.7 million ($4.1 million) to €2.4 million ($2.6 million), but added that it “still confirms” its sales forecast for the whole year of €110 million ($122 million), alongside an earnings target of “at least” €6.5 million ($7.2 million). The Recycler reported in June on Turbon’s announcement that it “plans to increase” sales to €150 million ($166 million) “in [the] medium term”.
The company’s last 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 in 2014 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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