Ceramiche Ricchetti reports turnover of 306 million euro in 2003

Mar 31, 2004

31/03/04 - The Ceramiche Ricchetti Group of Casalgrande (province of Reggio Emilia, Italy) has closed fiscal 2003 with a consolidated turnover of 306 million euro, slightly down on the 311 million euro of 2002 (-1.6%).

The Ebitda margin was 8.81% (compared to 11.08% in 2002), while Ebit margin was 1.89% (3.18% in 2002). Fiscal 2003 brought a net consolidated loss of 4.6 million euro compared to 9.3 million euro in 2002.

According to the Ceramiche Ricchetti Group’s chairman and managing director Oscar Zannoni, the Group’s results reflect “an economic situation that is still marked by low growth, with adverse factors such as the strong euro against the dollar and the competitive pressure of emerging players”.

However, the outlook is good for the current year. “The sector’s forecasts for 2004 show slight positive signs,” adds Zannoni, “with 6.5% growth in world tile consumption over a 2003 figure of more than 6 billion square metres. Our Group is maintaining its world leadership position through a further increase in R&D this year, a consolidated presence in foreign markets and diversification of highly competitive trademarks.”

The in-focus section contains the accounting sheets and a short presentation of the Ceramiche Ricchetti Groupconti.jpgCeramiche Ricchetti GroupCeramiche Ricchetti Group

Gruppo Ceramiche Ricchetti Spa is an industrial holding company which manufactures and markets ceramic floor and wall tiles for exteriors and interiors. It is one of the largest companies in its sector both in Italy and in the world and in 1996 became the first to be floated on the stock exchange.

The Group has 15 production facilities (seven in Italy, mostly located in the Sassuolo ceramic area, and eight elsewhere in Europe). It employs about 2,500 people and has an annual production of approximately 40 million square metres of tiles, 80% of which are sold abroad.

The Group has foreign operations in Portugal at the 5 Cinca factories, in Sweden at the CC Hoganas Byggkeramik factory, in Finland at Pukkila OY and in Germany at Klingenberg Dekoramik.

Accounting sheetsProspetti_contabili_ricchetti.pdf