Florim 2012 achieves virtuous growth

Following its good 2011 results, in 2012 Florim reported another year of strong economic performance and outstanding social and environmental achievements. The Fiorano Modenese based company led by chairman Claudio Lucchese achieved all the ambitious objectives contained in the 2011 Sustainability and Social Responsibility Report. The investments of 25 million euro (including 13.6 million euro for environmental management) brought well-deserved results including strong turnover and profitability growth in 2012. Key balance sheet figures include a consolidated turnover of 315.3 million euro (3.5% up on 2011) and a gross operating margin of 59.6 million euro (53.3 million euro in 2011), resulting in net profits of 26.1 million euro (17.8 million euro in 2011). A major contribution to this result was made by Florim USA, which has a production facility in Tennessee and a logistic centre in Georgia. The American subsidiary is pursuing the same principles of sustainability as its Italian parent company and saw investments of US $4.2 million in 2012.

Key activities carried through in 2012 have included the start-up of construction work on Florim's New Logistics Centre and a 25,000 m³ roller milling tank, completion of warehouse construction work and upgrading of the digital technology and water purification system. The sorting department packaging machines have been replaced and a number of old asbestos-roofed buildings in Mordano have been demolished and remediated. By the summer of 2013 the spaces devoted to the showroom, hospitality and events centre will be completed, to be followed in 2014 by major plant remodelling investments in the US factory.

The main objective is to achieve ever higher standards of social, environmental and economic sustainability. The concept of sustainability pursued by the company with great determination has become one of its key drivers of competitiveness.